We have 3 rental properties, each under different LLC. What service can I use from Turbo tax? I want turbo Tax to do my taxes.

Forum|Forum|3 years ago
December 30, 2022
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My wife and I are both partners in each LLC.

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Best answer by rjs

Georgia is not a community property state, so you are in the situation where you have to file four separate tax returns, three partnership returns plus your joint personal return. You should work with a local tax professional who is experienced in handling rental real estate and partnerships.

rjs

Employee

I think your situation is too complex for TurboTax Full Service, which is the service where TurboTax provides a tax professional to prepare your tax returns. You should find a local tax professional who can do it for you.

You didn't say what state you are in. If you do not live in a community property state, each of your LLCs is a partnership and has to file its own partnership tax return. So you have to file three separate partnership returns plus your personal joint tax return. If you are in a community property state you have to choose, for each LLC, whether to treat it as a partnership or as a disregarded entity. A local tax professional would be the best source of guidance for making those decisions.