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Question

Do we need to file a partnership return (Form 1065) if the rental property is owned in our personal names rather than the LLC that receives the income and expenses?

Forum|Forum|11 months ago
April 13, 2025
1 reply
0 views

We began renting our primary home in July 2024 and did not move the property into the LLC that receives the income and pays the expenses for managing the property. Do we need to file a return for our LLC? Or does the income and expenses flow through to our Schedule E only?

If the LLC is receiving the income and expenses, you should file the partnership return, UNLESS you are married and live in a community property state, then you can continue to report it on your Schedule E.