turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I started my sole-proprietorship real estate llc(buy & sell property) in Dec 2018, but had no activity at all - do i have to file anything for this with my tax returns?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
Coleen3
Intuit Alumni

I started my sole-proprietorship real estate llc(buy & sell property) in Dec 2018, but had no activity at all - do i have to file anything for this with my tax returns?

No. If you elect to be taxed as a Sole Proprietorship as opposed to as a Corporation, you don't need to do anything.

I started my sole-proprietorship real estate llc(buy & sell property) in Dec 2018, but had no activity at all - do i have to file anything for this with my tax returns?

Thanks Coleen! I can understand not filing SCH E.. But dont i have to file a zero income/expense SCH C either? Wouldn't IRS expect some filing for my LLC(even though it is a no activity LLC)?
Coleen3
Intuit Alumni

I started my sole-proprietorship real estate llc(buy & sell property) in Dec 2018, but had no activity at all - do i have to file anything for this with my tax returns?

No. That's only for Corp, Partnerships. An LLC is a disregarded entity.
A disregarded entity refers to a business entity with one owner that is not recognized for tax purposes as an entity separate from its owner. A single-member LLC ( “SMLLC”), for example, is considered to be a disregarded entity.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies