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rcooley25
Level 7
March 3, 2023
Solved

LLc rental

  • March 3, 2023
  • 2 replies
  • 21 views

Does an LLC that is ingaged in rental activitiy with one shareholder do they file form 1065 or scedule e on their personal return?

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Best answer by sjrcpa

Schedule E on the 1040.

2 replies

sjrcpa
sjrcpaAnswer
Level 15
March 3, 2023

Schedule E on the 1040.

The more I know the more I don’t know.
    R
    rcooley25Author
    Level 7
    March 3, 2023

    Thank You. That is what I thought. I just needed to hear it from someone else.

      Accountant-Man
      Accountant-Man
      Level 13
      March 3, 2023

      Shareholders are for corps, not LLCs.

      Single member LLCs rentals can file Sch E, or 1120 or 1120S, but never 1065.

      LLCs with more than one partner can files 1065 or 1120 or 1120S, but not Sch E.

      1065, 1120 and 1120S file separate returns from a 1040.

      1065 and 1120S provide K-1s to their owners, who then report the K-1 income, etc. on their own returns.

       

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