FILING INCOME TAXES

[Pat Hamilton]

I formed an LLC last year (I'm the sole member) and bought a multi-family home in philadelphia. It is currently being rehabbed and I haven't rented it out yet.

I wasn't going to file any tax forms for my LLC because I don't have rental income yet, but unfortunately (or fortunately :)), the money I had in my business bank account received interest so they gave me a form 1099-int. (for interest income). The interest income is about $1800, I have to show this income somewhere and pay taxes on it. Do I need to make a separate tax return for my LLC? Also, what happens once I start getting rent money? Do I need to file quarterly? I kinda wish I would have skipped this whole LLC business and bought it under my name.