Should I create a partnership and use schedule E, if I moved to NV but am renting out 85% of my home in Co?

stephgriggs18 — Tue, 24 Feb 2026 07:25:05 GMT

Or is creating a LLC, better. I will be traveling back to CO and staying in 1 room about 28 days a year.

Re: Should I create a partnership and use schedule E, if I moved to NV but am renting out 85% of my home in Co?

pk — Tue, 12 Sep 2023 20:09:43 GMT

@stephgriggs18 , from your post it is not clear what you are trying to achieve.

(a) Partnership would require you toi file a partnership return ( TurboTax Business ), issue K-1 to each partner for pass through tax liabilities etc. and you still have to file your own return recognizing any gains / losses from renting out your old home in CO. Also some of the tax laws may be different between a partnership constituted under the state law ( CO or NV ) It can rapidly get complicated.

(b) An LLC ( again under state law ) is generally allowed to be a disregarded entity, does enjoy some protection fro m claims , you still file a schedule-E for rental income and a Schedule-C covering any self-employment income. It does however offer some limited protection from renter suits but the veil of protection is not as robust as that in the case of C-Corp.

(c) the fact that you are going to use a dedicated portion of the rental / income property for personal use has nothing to do with actual rental activity --- it is NOT personal use of rental property ( assuming that the rest of the property is always available for income generation ( even if in between rental ).

I don't know if this helps you enough but I would strongly suggest a discussion with a Tax attorney before you decide on the type of entity. you wish to own.

Is there more I can do for you ?

Re: Should I create a partnership and use schedule E, if I moved to NV but am renting out 85% of my home in Co?

stephgriggs18 — Fri, 15 Sep 2023 13:52:53 GMT

Thank you for your answer. That helped a bit.

topic Should I create a partnership and use schedule E, if I moved to NV but am renting out 85% of my home in Co? in Get your taxes done using TurboTax

Should I create a partnership and use schedule E, if I moved to NV but am renting out 85% of my home in Co?

Re: Should I create a partnership and use schedule E, if I moved to NV but am renting out 85% of my home in Co?

Re: Should I create a partnership and use schedule E, if I moved to NV but am renting out 85% of my home in Co?