TaxGuyBill
Level 15

@jw-rogers wrote:

Two EIN's are obtained for a partnership return due in 2023.


 

EINs do not dictate how something is filed.  If there was only one member of the LLC, it correctly goes on Schedule E, not a 1065.

In the unlikely event the IRS were to ask for a 1065, just respond that there was no Partnership for those years and that that question on the EIN application was answered incorrectly.

 

I am not an attorney, but personally, I think the current setup is dumb.  From a legal protection viewpoint and from an easier tax viewpoint, each of the four properties should be in a separate Single-Member LLC (not two properties in one) and all of those Single Member LLCs could be owned by the Partnership.  But as I said, I am not an attorney.

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