RV Rental

[JimmiBeans88]

I bought a RV last year and because of hardships I have to rent it out. It was registered under my personal when I purchased it. But formed a LLC to conduct business for tax and asset protection. The LLC is disregarded to a C corp. So When I rent out the RV and accept payments through the LLC. How does that show up for me personally since it is registered under my personal. How does that flow work?

[MinhT1]

If your LLC is a single member LLC (or a husband-wife LLC in a community property state), it is a disregarded entity for tax purposes.

In this case, you report the income and expenses of the LLC on a Schedule C in your personal tax return.

If your LLC is not a disregarded entity, you have to prepare a LLC return (form 1065). You cannot use TurboTax online to prepare form 1065, but have to use TurboTax Business which is only available as a CD/Download on a Windows computer (not compatible with Mac).

You can purchase TurboTax Business from this link:

https://turbotax.intuit.com/small-business-taxes/