David Posted December 19, 2014 Report Share Posted December 19, 2014 H & W own commercial property that is leased to their S Corp business. They have reported the rental information on Sch E in the past. Recently they put the property in an LLC for legal protection. I will be getting an EIN for the TPs. Can a H & W continue to file Sch E or do they have to file a 1065? Thanks. Quote Link to comment Share on other sites More sharing options...
Lynn EA USTCP in Louisiana Posted December 19, 2014 Report Share Posted December 19, 2014 1065 1 Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted December 19, 2014 Report Share Posted December 19, 2014 8825 = Sch E equivalent Quote Link to comment Share on other sites More sharing options...
Lee B Posted December 20, 2014 Report Share Posted December 20, 2014 1065 Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted December 21, 2014 Report Share Posted December 21, 2014 1065, and don't apologize for the act that the law makes the legal protection cost a bit more in tax prep. Indeed, you will be helping them maintain that "protective wall" by filing the 1065 1 Quote Link to comment Share on other sites More sharing options...
KEYWEST_RICKS Posted December 22, 2014 Report Share Posted December 22, 2014 for the record... i do a 1065 in this situation. however, i asked this question at a seminar a few years ago and right in the middle of the presentation, with the whole group of 200 or so CPA's, the presenter stated to me..."that is the dumbest question i have ever received in my history of giving seminars".......and then never answered my question. i swear i will never forget this as long as i live. 1 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted December 22, 2014 Report Share Posted December 22, 2014 for the record... i do a 1065 in this situation. however, i asked this question at a seminar a few years ago and right in the middle of the presentation, with the whole group of 200 or so CPA's, the presenter stated to me..."that is the dumbest question i have ever received in my history of giving seminars".......and then never answered my question. i swear i will never forget this as long as i live. Sounds like the seminar could have found a much more competent presenter. That kind of arrogance is NOT indicative of a good teacher or presenter. 5 Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted December 22, 2014 Report Share Posted December 22, 2014 If it was such a dumb question, why didn't the presenter know the answer? 4 Quote Link to comment Share on other sites More sharing options...
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