Question

How do you enter property taxes paid by the single-owner LLC?

Forum|Forum|2 years ago
April 7, 2024
2 replies
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I am trustee for my trust, which owns a single member LLC. The LLC owns the rental property. The LLC pays for everything including the property taxes. TurboTax doesn't ask about property taxes as an expense during the business expenses questioning phase. How do I enter the property taxes into Turbo Tax properly?

TurboTax Home & Biz Windows

PatriciaV

Property taxes for a Rental Property are entered under Expenses from the Rental Summary page of the rental property. The line is labelled "Real Estate Taxes" under Common Expenses.

These instructions assume you are reporting the rental activity for a Single-Member LLC on Schedule E of your personal 1040 return.

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A

AmeliesUncle

@Justa-Tax-Noob wrote:
during the business expenses questioning phase.

Are "services" provided to the tenants of the rental (such as maid service or meals)? If not, you don't enter it as a "business", you enter it in the "rental" section.