How do I claim rent through Registered Agent to maximize tax benifits?

[donttaxLee]

I am collecting rent in  Delaware but have an LLC  Registered Agent in Wyoming. How should this be entered in turbo tax? 

[ErnieS0]

You will file a Delaware income tax return since you have a Delaware property that is producing income in Delaware.

You do not say what was your state of residence, nor whether you are a single person LLC and/or whether the LLC itself is filing a separate income tax return.

Wyoming does not have a personal or corporate income tax so you probably will not have to file any income tax returns with Wyoming. Check with a local tax expert as LLC laws vary from state to state.

However, you will have to file a Delaware personal income tax return, an entity return or possibly both. Limited Liability Companies classified as partnerships must file Delaware Form 300. Limited Liability Companies classified as corporations must file either Delaware Form 1100 or Form 1100S.

Refer to Limited Liability Company FAQs