Updated over 7 years ago on .
Most recent reply
presented by
Determining rent for primary residence used for LLC
Hello BP Team,
How do you determine the rent for a primary residence used also for an LLC?
Also is it mandatory for the owner of the LLC (also owns the residence) to submit a 1099 to IRS for the rents paid or is it sufficient for the residence owner to only report the rental income in Schedule E just like any other rental income?
Any guidance is much appreciated.