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Updated almost 9 years ago,
LLC Schedule C or E?
Hi folks,
Trying to figure this out and do the right thing while filing my taxes.
I established an LLC to run my real estate business and keep it separate from my personal stuff.
My leases are all under the LLC.
Tenants pay electronically into my LLC bank accounts.
Payments are made through LLC debit and credit cards.
Property is under my name, not the LLC.
:(
Financing was not keen on unestablished LLC at the time. Haven't transferred for fear of due on sale clause.
Schedule C and E seem pretty similar, so which one should I complete?
I have a feeling NOT both.
Thanks.