Guidance for tax mgmt for STR

[Elizabeth Conklin]

I have rental income from my primary residence which I use as a STR, since we live overseas. In talking with my current accountant, I am concerned I am missing key items in my tax filing strategy including:

1-Rental income has not been included under Schedule E on my tax return. Is this correct given it is our primary residence?

2-I have not done depreciation calculations yet-and since I bought in Nov 2020 want to make sure I do this for 2022. Should I seek separate guidance, as I am not sure my accountant will do this properly/to my benefit.

3-My accountant has insisted that since I currently have one property, I should not open an LLC. I am planning to buy at least 1-2 properties over the upcoming years. Is this correct?

Thanks!