Tax Return for Rental Property

[Padam Neopane]

Hello BP Family,

My CPA has filed combined rental property LLC to my personal property . When I asked to file LLC account separately from my personal tax return, he says it is not necessary.

[Linda Weygant]

Quote from @Padam Neopane:

Hello BP Family,

My CPA has filed combined rental property LLC to my personal property . When I asked to file LLC account separately from my personal tax return, he says it is not necessary.

It depends on your LLC structure and what state you're in.

ALL single member LLCs are filed on the personal return.

Multi Member LLCs in Community Property states have an option to file on the personal return, but can file on a 1065.

Multi Member LLCs in other - non community property states - MUST file on a 1065.

Make sure you understand your structure.