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asaoleo
New Member

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

 
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3 Replies
Vanessa A
Expert Alumni

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

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. 

 

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asaoleo
New Member

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

Thanks for your reply 

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

Thanks again 

MoniqueLO_
Intuit Alumni

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

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

@asaoleo 

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