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Updated almost 12 years ago,

User Stats

108
Posts
26
Votes
Ryan O.
  • Wholesaler
  • Downers Grove, IL
26
Votes |
108
Posts

Taxes For New LLC

Ryan O.
  • Wholesaler
  • Downers Grove, IL
Posted

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?

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