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- If you have a home owned by a 5 member LLC and rented to the daughter/niece of the members as her primary residence at a rent less than FMV, where do you report the rent income on Form 1065-as rent in...
If you have a home owned by a 5 member LLC and rented to the daughter/niece of the members as her primary residence at a rent less than FMV, where do you report the rent income on Form 1065-as rent income on form 8825 or on Schedule K? I know the expenses
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Loretta1
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5 hours ago
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If you have a home owned by a 5 member LLC and rented to the daughter/niece of the members as her primary residence at a rent less than FMV, where do you report the rent income on Form 1065-as rent income on form 8825 or on Schedule K? I know the expenses are not deductible with the exception of the property taxes which flow through to the members' Schedule A if they are able to deduct their share of those taxes. But where do you report the income?
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