Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 12 years ago,
Taxes For New LLC
I tried to search BP for an aswer to my tax question to no avail, so I'm hoping to get some answers by posting here.
In 2012 myself and a partner rehabbed and sold 1 property in our own names, did well, and decided to make a business of it. After the property was sold we decided to form an LLC (Oct 2012). Should we file 2012 taxes in the entities name or our personal names. I understand that ultimately the income will flow to our personal returns, but for the purpose of the partnership return and 1099's should they be in the entities name or not?