Greta
Level 9
08-26-2022
05:38 PM
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Client has two rental properties, and plans to put both in an LLC, sole member. Normally this is a disregarded entity. I want to urge her to put each property into a separate LLC. But if she puts them both into the same LLC, how do I keep the rental information separate on Sch E? Put cumulative amounts into one column? Delete the old rental depreciation I had in prior years? Or have her husband as co-owner, so I could file the rentals separately on Form 8825. So far in 2021 (she filed an extension) she put just one into the LLC, so I can probably handle it in 2021.
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