LouD Posted February 20, 2014 Report Share Posted February 20, 2014 Need some help with how to present rental property activity on a partnership tax return. First year in existence in 2013, two member partnership that has purchased several residential properties and one commercial property. Not a problem so far, but the thing that has me confused is that the properties were purchased in two separate SMLLCs owned 100% by this partnership - one SMLLC for the residential properties and another SMLLC for the commercial building. Is it as simple as reporting each rental property as I normally would on the partnership return (Form 8825), or are things handled differently since they are sitting in the SMLLCs and I show the activity on Line 4 of the 1065? Thanks in advance for the help! Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 20, 2014 Report Share Posted February 20, 2014 Since a SMLLC can be treated as a 'disregarded entity' for tax purposes I would report each rental property as I normally would on the partnership return (Form 8825). Quote Link to comment Share on other sites More sharing options...
LouD Posted February 20, 2014 Author Report Share Posted February 20, 2014 Thanks KC - wasn't sure if I was overthinking things. Makes sense since that's how it's done on a personal 1040 when rental properties are owned in SMLLC. Thanks for the help and quick response! 1 Quote Link to comment Share on other sites More sharing options...
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