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Updated over 1 year ago on . Most recent reply

User Stats

10
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2
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Rodney Woodruff
  • Rental Property Investor
  • Cumming, GA
2
Votes |
10
Posts

File LLC as Pass Through Entity or Seprate Entity?

Rodney Woodruff
  • Rental Property Investor
  • Cumming, GA
Posted

The LLC did not purchase any properties but did incur expenses. Do I need to file the entity separately from my personal filing?

Most Popular Reply

User Stats

147
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41
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Eric Williams
  • Accountant
  • Houston, TX
41
Votes |
147
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Eric Williams
  • Accountant
  • Houston, TX
Replied
Quote from @Rodney Woodruff:

The LLC did not purchase any properties but did incur expenses. Do I need to file the entity separately from my personal filing?

An LLC is a separate legal entity, but may be disregarded for Federal income tax purposes if you are the sole member. 

If you don't have another member (partner), you couldn't file a partnership passthrough because there aren't partners.

If you didn't complete an S election you can't file as an S Corporation pass through.

It probably goes on Sch E.

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