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Updated almost 8 years ago,

User Stats

111
Posts
13
Votes
Martha Daisley
Pro Member
  • Rental Property Investor
  • Orlando, FL
13
Votes |
111
Posts

Husband and Wife LLC

Martha Daisley
Pro Member
  • Rental Property Investor
  • Orlando, FL
Posted

hello all

My husband and I are closing on a property this week. We want to close in an LLC we just created. My question is, when i go to create the EIN number, the IRS wants to automatically make us a partnership. My accountant says dont do that as we will have to fill out some 1065 form instead of being able to put the rental income under schedule E. He says to not get an EIN and file the taxes under our personal socials. But i thought the point of the LLC was to keep our personal separate from business in order to avoid liability. Wouldnt filing the LLCs income under our personal socials make the LLC pointless? How can we get an EIN for it without being a partnership?

Thanks!

Martha

  • Martha Daisley
  • Loading replies...