Mr " X" formed one member LLC. The nature of business is Real Estate. The LLC buys, sells and rents houses. Currently it has 5 houses and all of them are rented. So the LLC has $30000 from rent. where to report his LLC income ?
01566
1 Replies
pk
Level 15
Jun 11, 2019 9:13:32 AM
This is dis-regarded entity for tax purposes --- you file a schedule -E covering all the rental properties and schedule-D for buying and selling realestate.