Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago, 09/02/2018

User Stats

4
Posts
1
Votes
Tam Truong
Pro Member
1
Votes |
4
Posts

Taxation and asset protection question

Tam Truong
Pro Member
Posted

I don't fully understand how tax structuring work so here is my question and I don't have the best accountant. I have 5 houses with each home under it's multi-member LLC, my dad and myself. I have been filing each LLC partnership return (1065) and the rental income would go on our personal returns.

1) Should I put all houses under single-member sole proprietor so that I don't have to file a partnership return (1065) for each home and the rental income just reported on the Schedule E of my 1040? (I'm getting charged $1k for each 1065)

2) Should I have a separate multi-member LLC that takes income from the 5 houses and that is the only partnership return I have to do?

Thanks in advance.

  • Tam Truong
  • Loading replies...