You'll need to sign in or create an account to connect with an expert.
If you have a multi-member LLC that files a partnership return form 1065 then the partnership will issue you each a k-1 form that must be entered on the personal tax return.
Do I have to include the income in our joint tax return?
That will happen automatically. The rental income is reported on IRS Form 8825 as a physical part of the 1065 partnership return. The partnership issues each owner a K-1. Each partner has to enter that K-1 on their personal 1040 tax returns. Each individual K-1 is entered one at a time on the tax return even if the partners are married to each other and filing a joint personal return.
The rental income/loss will then appear on page 2 of the SCH E that is a physical part of your personal 1040 joint tax return.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ttoro
New Member
Mike2959
New Member
5351ea506cfa
New Member
theresa-chiang
New Member
Marx2
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.