LLC owns rental property

SaifTax · ‎March 4, 2025

When reporting rental income and expenses, software asked who owns the property, currently it only shows my name to select it. Although this property is owned by LLC and bought last year.

Should I add LLC in the filing? Or leave it?

Mike9241 · ‎March 4, 2025

a single member LLC is disregarded for tax purposes - so in effect, you pwn it.

SaifTax · ‎March 4, 2025

Should there be any mention of LLC in the returns?

JotikaT2 · ‎March 6, 2025

If this is a single member LLC, then all activity would be reported on your Schedule C as a business since it's considered a disregarded entity. If you file a state return, reporting requirements vary. If the LLC has more than one member, then the LLC has it's own filing requirements. Please see the following link for more details on LLC filing requirements.

LLC Tax Filing Rules

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

LLC owns rental property