Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 9, 2023 4:41:40 PM

Self Employment Income was included in Rental Properties under personal name instead of LLC name. How to transfer it to proper category?

0 3 728
3 Replies
Expert Alumni
Apr 10, 2023 9:59:07 AM

If you are a single member LLC, then  your rental properties should be included on Schedule E instead of Schedule C.  The only way they should be on Schedule C is if you run like an AirBnB and provide additional services such as making them breakfast or housekeeping.  

 

If you own standard rental properties where you have a tenant sign a lease, then your job is limited to property management, even if you created an LLC it would be reported on Schedule E. 

 

New Member
Apr 12, 2023 12:53:03 PM

Thanks for your reply 

It seems I am good and don't need to change anything then.

Thanks again 

Intuit Alumni
Apr 12, 2023 1:01:57 PM

Thank you for the update! Please feel free to reach back out to us if you need help with anything else. 

@asaoleo