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03 November 2008

Re: [taxchat] Rental property in LLC

the sole props that are married are filing the E as 1 person, not husb/wife, as there is no real advantage, unless the property is in both names.  mine isnt.  the other sole props are single so its a true sole prop.  and i guess i shouldnt have used the term "sole prop" as it isnt a sched C. i was just trying to say that my married man put each of his properties in a separate LLC, each with a diff ein.
lynne

Donna J. Perrone wrote:

Lynne,
 
When your husband/wife clients created an LLC for their rental, I assume that they applied for an EIN for the LLC?  If so, were both spouses listed as members?  And if that is true, I would assume they classified themselves as partners?  And had to file a 1065?
 
You mentioned sole prop.  If that was the case, then only one spouse was listed on the LLC?
 
 
 
Donna J. Perrone, EA
East Haven, CT
203-469-4939
203-468-2038 fax
 
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