TaxProTalk.com

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

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...