Me and my husband are the only 2 member-managers of our LLC for a rental property. Our K-1 is correct, it has General partner or LLC member-manager check marked. I am confused because on the Analysis of Net Income, it put our income under "Limited Partner Active"?
Shouldn't it be under General Partner Active?
I am also confused on if we are active or passive? We do not work more than 100 hours a year on the rental therefore, do not pass the "Active test", but we are the only 2 managing members of the LLC and have noone else involved in the business. We take care of everything.
You'll need to sign in or create an account to connect with an expert.
Duplicate post. See response in Business section.
I’m confused? I’m just asking for advice. I wasn’t sure which forum to post in.
You posted in two places. It appears you found the response in the other post.
Still have questions?
Make a postDid 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.