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Updated about 9 years ago,

User Stats

3
Posts
1
Votes
Jason Hutcheson
  • Burlington, IA
1
Votes |
3
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Overhead expenses on Forms 1065/8825?

Jason Hutcheson
  • Burlington, IA
Posted

I've got an LLC taxed as a partnership with one additional partner. Renting real estate is the only business activity the LLC does. I'm looking ahead to Form 1065 and the associated Form 8825. Although we track expenses for each property, there are some overhead items like a printer, attorney fees for incorporating, ordering checks, etc. that apply to the overall business entity and not specifically to an individual property. Should I allocate those overhead items evenly across properties on Form 8825 or is there another place on the Form 1065 where they should be accounted for? Thank you for any thoughts.

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