Need-2-Know-Mor e
Level 1
12-07-2019
10:29 AM
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The client is the sole owner of the LLC and files it as a disregarded entity. If LLC owns the rental property, then Sch E should be used to report the income and expenses, but in this case the LLC gets a K-1 with rental income on line 2, then how this amount should be entered in the ProSeries tax software? Should I just enter the k-1 line 2 amount on Sch E as rental income?
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