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Updated almost 6 years ago,

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1
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Matthew Gray
  • Hoboken, NJ
0
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How is interest income taxed in LLC?

Matthew Gray
  • Hoboken, NJ
Posted

I have a unique question I'm getting conflicting answers on. I made a real estate investment in my single member LLC in 2018 and was issued a 1099-INT. I did not receive any other income within that LLC in 2018. I assumed that this would go on my personal return under Schedule-B like any other interest income. I'm now being told it may be Schedule C since it was within the LLC.

-If it were to go on my Schedule B, do I not submit a schedule C for the LLC?

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