I have a 4-plex under an LLC for last 5 years. In 2017, I bought another 4-plex with the same LLC. Do I report this as a new rental property or can I add to existing 1?

ramesh · ‎June 4, 2019

I have an LLC for each rental property and I maintain a book for each LLC. However, I bought a 4-plex in 2017 that is next to another 4-plex I owned for a few years and used same LLC. Or do I need to treat this as separate rental property? Thanks.

PaulaM · ‎June 4, 2019

The second rental property purchased in 2017 is a new rental property. Add the new 4-plex as a new multi-family building and enter the income/expenses/depreciation for it separately from the older 4-plex.

It does not matter if the new rental is under the same LLC ownership. Each rental property is unique.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

PaulaM · ‎June 4, 2019

The second rental property purchased in 2017 is a new rental property. Add the new 4-plex as a new multi-family building and enter the income/expenses/depreciation for it separately from the older 4-plex.

It does not matter if the new rental is under the same LLC ownership. Each rental property is unique.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

I have a 4-plex under an LLC for last 5 years. In 2017, I bought another 4-plex with the same LLC. Do I report this as a new rental property or can I add to existing 1?