With no other income in the business LLC, I only show the expenses as a loss on 1040 line 12. Last year, my accountant divided up those business expenses into the 2 rental real estate sections (for the 2 properties). However, I already have a ton of carryover losses on my rental real estate sections so I'm not sure which way is better.
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You should set up two separate rentals on your Schedule E and allocate the expenses based on which property they are attributable to.
You should set up two separate rentals on your Schedule E and allocate the expenses based on which property they are attributable to.
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