Oh Baby! Posted May 20, 2014 Report Share Posted May 20, 2014 If an LLC which owns 30 properties, elects to be treated as a real estate professional, would a separate schedule on form 8825 be completed for each property or would all 30 properties be reported as a single activity on form 8825? Please help. Thanks! Quote Link to comment Share on other sites More sharing options...
Lee B Posted May 20, 2014 Report Share Posted May 20, 2014 This is not quite this simple. First is this a single member or multi member LLC. Second is whether it's a good idea to combine i.e., I believe it's called an "election to aggregate". Also "material participation rules" and "passive loss rules" also come into play There are pros and cons to doing so. I think some research and in depth study is called for in this case. I sure some of members which have more experience in this area will respond in more detail. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted May 20, 2014 Report Share Posted May 20, 2014 THE LLC doesn't do any elections. that is done at the individual partner level. Treat each property as a separate entity on the 8825. Some of the partners may be professionals while others aren't. Quote Link to comment Share on other sites More sharing options...
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