How to report Rental Income by a one-member LLC

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • JoEllen
    Junior Member
    • Mar 2012
    • 5
    #1

    How to report Rental Income by a one-member LLC

    My T/P just formed an LLC (one member). Everything I read tells me to report the rental income as before on a Sch E as a Sole Proprietor but my software will not allow me to put in the LLC name and FIN. If it was a Sch C, I could.

    Any suggestions?
    Tags: None
    • Gretel
      Senior Member
      • Jun 2005
      • 4008
      #2
      Hi JoEllen, welcome to the board.

      This transaction will be reported on Schedule E and there is no need for the LLC information on that schedule. At least that would be news to me. I never have done that.

        Comment

        • DMICPA
          Senior Member
          • Nov 2007
          • 310
          #3
          LLC Rental

          The rental operations are recorded on a Schedule E as if the LLC did not exist.

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...