SMLLC with building

[june]

An SMLLC owns a building in which her Schedule C activities are carried out. In addition, a portion of the building is rented to other businesses.

Can an SMLLC file two disregarded entity forms on the 1040? That is, can one SMLLC file both a Schedule C and a Schedule E?

[Bees Knees]

The single member LLC is the disregarded entity. That means the LLC does not file as being separate from its owner. The owner, thus, files Schedule C, or E, or F, depending on the character of income. It does not matter if the owner has to file a Schedule C and a Schedule E for the same LLC, because for federal tax purposes, you ignore the LLC as a separate entity.

[JON]

I think you are right June...

File the portion used by the schedule C avtivity on the Schedule C. And the portion rented to others as a Schedule C Rental activity.

[OldJack]

And the portion rented to others as a Schedule C Rental activity.

I believe the building rental to others would qualify for Schedule E.

[JON]

That was my poor typing

Schedule E is CORRECT