I own 2 rental properties -one I handle and one is under a single member LLC. Both must be reported on Schedule E of personal taxes. How do I list the LLC differently?

Forum|Forum|3 years ago
February 23, 2023
2 replies
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Schedule E just asks for addresses. How do I list the one as an LLC or doesn't it matter?

TurboTax Premier Online

Best answer by JosephS1

As you go through the questionnaire, eventually when it asks for the name and ID number for each rental, for the LLC ownership rental enter the name of the LLC and and EIN. A screenshot of this is below:

This will be on one of the last screens, almost immediately after the QBI questions, before returning to the summary.

@SleepyShoe

JosephS1Answer

This will be on one of the last screens, almost immediately after the QBI questions, before returning to the summary.

@SleepyShoe

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Carl11_2

Employee

Unless you qualify as am active trade or business, (while not impossible, I doubt it it does) all rental income/expenses is reported on SCH E. So if the only thing the LLC owns is the rental, you have absolutely nothing concerning the rental to report on SCH C, which means you have no need to file a SCH C at all.