Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-14-2012, 11:39 PM
Junior Member
 
Join Date: Feb 2012
Posts: 4
LLC and Turbo Tax

I started a LLC last year which has a few taxi cabs for vehicle rental purposes only. All the LLC does is rent the car on a weekly basis and has no employees. My question is where do I enter my income from rent on turbo tax, would it fall under rental property or business income section? Also the deductions for repairs on the cars are those just listed under the business expenses. Thanks for any help, this is my first time owning an LLC and using Turbo tax and wanting to do it on my own to learn.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
LLC and Turbo Tax Danny2010 Sole-Proprietorship 3 02-15-2012 10:07 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.