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Re: Putting Rental into LLC
by Don (MO)
on December 21, 2017 @11:18
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It depends on the tax status you elect for your LLC. If you go with the default, it is a DISREGARDED ENTITY (assuming this is a single member entity which it sounds like). With a disregarded ENTITY, the LLC would not even file a return.
You as the owner would file it on your personal return. If your LLC is a disregarded ENTITY, it should have no effect (negative or poaitive) on your taxes as opposed to owning it personally. The benefit of an LLC comes in the form of the asset protection an LLC provides.
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