Solved: Trying to file LLC taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

Trying to file LLC taxes

I am attempting to e-file my taxes for my LLC that has a single rental property. Before I can I need to provide the "total income amount from 2018 return." This amount is supposedly listed on page 1, line 8 of my prior year Form 1065 return. That line, however, is blank. What am I supposed to put? I'm not sure I can leave it blank. Also, I don't know if "total income" refers to the gross rent we pulled in last year, or our net income, which is significantly lower. 

1 Best answer

Accepted Solutions
Highlighted
Level 15

Trying to file LLC taxes


@myeoman13 wrote:

Thank you! That is the number I was using but wasn't sure if it was correct.


You are most welcome, but that number does not factor into the total income on Line 8, which is strictly for trade or business income (unless the LLC is a real estate dealer).

View solution in original post

3 Replies
Highlighted
Level 15

Trying to file LLC taxes


@myeoman13 wrote:

I am attempting to e-file my taxes for my LLC that has a single rental property.


Net rental income for your LLC will appear on Line 2 of Schedule K on Form 1065.

Highlighted
Level 1

Trying to file LLC taxes

Thank you! That is the number I was using but wasn't sure if it was correct.

Highlighted
Level 15

Trying to file LLC taxes


@myeoman13 wrote:

Thank you! That is the number I was using but wasn't sure if it was correct.


You are most welcome, but that number does not factor into the total income on Line 8, which is strictly for trade or business income (unless the LLC is a real estate dealer).

View solution in original post

Privacy Settings