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Z
zeffstar3
February 20, 2025
Question

how to file if rental property was converted to an LLC

  • February 20, 2025
  • 1 reply
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    1 reply

    D
    DavidD66
    February 20, 2025

    If your LLC is a single member LLC, then nothing changes about the way you file your tax returns.  The iRS considers a Single Member LLC as a "disregarded entity" for tax purposes.  Your LLC is a legal entity that may provide you certain legal protections; however, as far as the IRS is concerned it has no impact on how you file your tax returns.  If it is multi-member LLC, the you must report the rental property income and expenses on a partnership return, Form 1065.  

     

    For more information see the following IRS site:  Single member limited liability companies

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