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SMLLC Schedule E Multiple Buildings

Technical topics regarding tax preparation.
#1
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377
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30-May-2014 1:43pm
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MA
New client has a SMLLC which own multiple commercial real estate buildings. The activity is reported as one item on the Schedule E. Because it is multiple buildings, the rent number is quite larger . I would have thought it better to present each building separately. Is there an official correct way to report it? Normally for a 1065 we would show multiple properties on the Form 8825.

I figure combining the numbers is going to increase the audit risk by showing such a large number on a Form 1040 Schedule E
 

#2
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757
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22-Apr-2014 9:07am
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Chicago, IL
https://www.taxprotalk.com/forums/viewtopic.php?f=8&t=9673

Do you think that the fact they are all held in a single entity changes the requirement to report each activity separately? Perhaps that's what the prior tax preparer thinks...
 


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