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I have 2 rental properties that i always file under on my tax return. Last May 2023 I moved the properties from my name/trust to LLC. Do i need to file as business LLC

should i file under turbo tax as regular rental properties or should i select the business/LLC turbo tax to file 2023 taxes, since it was may 2023 when i moved the properties over to LLC for liability/protection purposes.
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MarilynG1
Expert Alumni

I have 2 rental properties that i always file under on my tax return. Last May 2023 I moved the properties from my name/trust to LLC. Do i need to file as business LLC

Where you enter rental activity depends on the type of LLC and its members.

 

  1. Single-Member LLCs (SMLLC) most often file rental activity on Schedule E as part of Form 1040 (a personal tax return). 
  2. Multiple-Member LLCs that file as a partnership file rental activity on Form 8825 as part of Form 1065 (Partnership) return.

Here's more detailed info on Rental Activity and LLC's.

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