I formed a single member LLC that owns my rental property. Rental property management company sent me 1099-Misc form with my LLC name on it. how should I file my rental?

Forum|Forum|3 years ago
February 18, 2023
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I own the rental. I've formed single member LLC and transferred the ownership to the LLC.

I hired a rental property management company to manage the rental and they sent me (my llc) 1099-misc form.

Now I'm trying to figure out how to file this ?

1- Should I just type 1099-misc under my personal tax form

2- or should I use schedule C form for my rental

3- or should I file setup my rental LLC in TurboTax and then type the 1099-misc under the LCC ?

Thanks

update:

I just followed the turbo tax wizard and it asked me for my LLC info

and it seems everything went under "Rental Properties and Royalties (Sch E)"

TurboTax Premier Online

DMarkM1

Yes, that is absolutely correct. The single member sole proprietorship LLC is a disregarded entity for tax purposes. The rental income and expenses go on your tax return as a rental property and the 1099-Misc form is entered as income in the "Rental..." topic.

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