All Forum Posts by: Tom Abbot

We recently purchased a condo that we'll be renting out and formed an LLC naming both spouses. I'm not sure how to fill out the ‘Federal tax election' section on the LLC request for information form tr-570 from NYS.

We want to be able to continue to file a joint return with income from LLC treated as part of our joint return.

Do I indicate 1) sole proprietor and yes on single member, or 2) sole proprietor and no on single member, or 3) partnership and no on single member? 

There is a separate check box for ‘single-member LLC that is treated as a disregarded entity'.