Florida LLC live in NY

Forum|Forum|6 years ago
December 7, 2019
3 replies
34 views

I own a Real Estate LLC in Florida but live in New York

I think I need to file a NY LLC tax return as well as the Federal tax return?

What reporting is required of the LLC by Florida?

Thank you

ProSeries Professional

This topic has been closed for replies.

Best answer by sjrcpa

If it is a single member LLC all activity gets reported on the owner's 1040 and NY return.

sjrcpaAnswer

Level 15

If it is a single member LLC all activity gets reported on the owner's 1040 and NY return.

The more I know the more I don’t know.

N

Nicholas923Author

Level 3

Thank you it is not a single-member LLC there are two members

sjrcpa

Level 15

The Florida LLC files a partnership return , unless it has elected to be taxed as a partnership.

Yes NY's instructions say you must file a NY partnership return if there is a NY resident partner. I believe there is not widespread compliance with this.

But definitely need to file if doing business in NY. Since client lives in NY - is he conducting LLC business in NY?

The more I know the more I don’t know.

N

Nicholas923Author

Level 3

Thank you for your response the business is a real estate rental business in Florida the only thing that they are doing in New York is paperwork

Ernie

Level 7

Sounds like a due it yourselfer and you need to go to the Turbo Tax forum and ask there. Maybe you will get a good answer maybe not. Either way you don't belong on here.

N

Nicholas923Author

Level 3

I apologized it’s the way I worded it it’s not for me it’s for a client thank you

Sign up

Login with SSO

Let's get you signed in

Login with SSO