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Updated about 10 years ago,
Tax returns for LLC holding real estate
I own a property through an LLC with 5 partners. I know I need to prepare form 1065 and K-1s, but I can't figure out how rental income/expenses fit into Form 1065? Is rental revenue my sales, where do operating expenses go, etc? Do I need to fill out form 8825 and if so, where does that flow to 1065?
Thanks!