Question

I created an LLC mid-year 2020, how should I file my taxes for 2020?

Forum|Forum|5 years ago
April 9, 2021
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I have moved one of my rental properties under that LLC. Rent is the only income in that LLC. Should I file a separate tax return for LLC or can I include that in my personal tax return?

TurboTax Online

I

Irene2805

If the LLC is a single-member entity, then you can report the income and expenses on Schedule E in your personal return. If it is a multi-member LLC, you will have to file a business return--either a 1065 (partnership) or 1120S (S-Corp), depending on how the LLC was set up.,