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New Member
posted Sep 11, 2019 2:32:08 PM

I own an LLC that owns some property - where do I declare?

Do I declare under self-employment or under rental property?

0 4 720
4 Replies
Level 15
Sep 11, 2019 2:49:59 PM


@danielabud wrote:
Do I declare under self-employment or under rental property?

Is it rental real estate? If so, enter that under Rental Properties and Royalties (Sch E).

New Member
Sep 11, 2019 3:04:56 PM

Yes but it's owned by the LLC and the mortgage is under the LLC as well

Level 15
Sep 11, 2019 3:09:31 PM

It is still entered in the Rental section of the program.

Level 15
Sep 11, 2019 4:34:01 PM

A single member LLC is a disregarded entity for income taxes so it is simply reported on the personal tax return on the Sch E.... UNLESS the LLC is incorporated.