topic How to enter SMLLC rental property using turbotax premium in Investors & landlords

How to enter SMLLC rental property using turbotax premium

harink5 — Tue, 03 Feb 2026 16:54:54 GMT

Re: How to enter SMLLC rental property using turbotax premium

Mike9241 — Tue, 04 Mar 2025 02:13:13 GMT

a SMLLC is disregarded for taxx purposes so the rental is entered directly on your 1040 using schedule E unless you provided significant services to short-term renters like with a B&B then use schedule C.

Re: How to enter SMLLC rental property using turbotax premium

pk — Tue, 04 Mar 2025 02:13:51 GMT

@harink5 , unless you choose to do different, a single member LLC is a dis-regarded entity for tax purposes. Thus you prepare a Schedule-C / Schedule -E to cover the incomes and expenses of the rental properties. The choice is of the forms is based on whether you are a real-estate professional ( i.e. you spend a lot of time and large part of your in come comes from rental ) or you are just an active landlord. Most people even with multiple rental properties still use Schedule-E for tax purposes while the LLC is for legal protection.

Is there more I can do for you ?

Re: How to enter SMLLC rental property using turbotax premium

KrisD15 — Tue, 04 Mar 2025 02:23:38 GMT

The Single Member Limited Liability Company rental would be reported on Schedule E or Schedule C on your tax return since it is a pass-through entity.

This was included in the previous answer, however, in addition, it depends if the rental is short-term, in which case it would need to be reported on Schedule C as a business.

The IRS has determined that short-term rentals, such as Airbnb, are a business and reported on Schedule C, not a rental on Schedule E.

Operators of Short-Term rentals will be subject to self-employment tax (FICA) on the profit.

@harink5

Re: How to enter SMLLC rental property using turbotax premium

pk — Tue, 04 Mar 2025 02:25:30 GMT

Re: How to enter SMLLC rental property using turbotax premium

AmeliesUncle — Tue, 04 Mar 2025 18:25:12 GMT

@KrisD15 wrote:
it depends if the rental is short-term, in which case it would need to be reported on Schedule C as a business.
The IRS has determined that short-term rentals, such as Airbnb, are a business and reported on Schedule C, not a rental on Schedule E.

Operators of Short-Term rentals will be subject to self-employment tax (FICA) on the profit.

No, short-term does NOT mean Schedule C. Schedule C (and SE tax) is used if "services" (such as maid service or meals) are provided to the tenants. If "services" are not provided to the tenants, it belongs on Schedule E (and not subject to SE tax).