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Updated 6 months ago,

User Stats

9
Posts
3
Votes
Anna Nevarez
Pro Member
3
Votes |
9
Posts

Can an LLC report one rental on Schedule C and the other on Schedule E?

Anna Nevarez
Pro Member
Posted

I hold two properties in an LLC, one property is currently a STR with less than 7 night rental on average and I provide hotel-like hospitality services and materially participate. I just acquired it and would like to report this property on Schedule C to deduct the loss of first year operations and expenses against my other Sch C business(es) and my husband's W2. The plan is to cease the STR next year and switch to a MTR and thus, I would then report that property on Schedule E.

My other property, which was also recently acquired, is already a MTR, and I would need to report it on Schedule E.

So my question is: can I report one property on SCH E and the other on SCH C even though they are both owned by one LLC? I do my own book-keeping and taxes, so don't have a CPA to consult.

Thanks for any advice!

  • Anna Nevarez
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