cpazott
Level 3

Hello Community!

I have a married couple that formed a LLC for a commercial rental property. 

They have been filing a 1065 since inception (50/50 ownership with husband and wife).

Can they eliminate the 1065 filing and report the income and expense on Schedule E and eliminate this additional expense under the single member LLC filing rules?

I would like to save them the expense of tax preparation if possible.

Thank you! 

 

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