The loan is issued to an individual or a disregarded single-member LLC, as opposed to loans issued to partnerships or corporations. 3.

The IRS cross-references your 1098s with claimed deductions, raising concerns if discrepancies arise.Private Lenders and Forms 1098: Private lenders are required to send Forms 1098, but only if they meet specific criteria:The private lender operates as a “trade or business,” distinguishing professional lenders from casual lenders like friends or family members.The loan is issued to an individual or a disregarded single-member LLC.The loan is a mortgage secured by real property.The annual interest paid on the mortgage was $600 or more for the previous year.The conditions leave some room for interpretation, particularly regarding the “trade or business” clause.

People believe what they want to believe and disregard the rest.

Now if gater is something different then disregard what I wrote.

For tax purposes, the LLCs are disregarded entities, and all income and expenses are reported under the holding company. 

I’ve already gotten my resolve for this so disregard

I’ve already gotten my resolve for this so disregard

From a tax perspective, an LLC is a disregarded entity (meaning it is reported on your personal tax return) until you elect for the LLC to be treated otherwise.

Disregard.

single member LLC's are "disregarded entities" by the Federal IRS, which is to say that the IRS didn't bother to create another set of forms.