LandLord and Sole Proprioritor

General Real Estate Investing
1

Hi – Do I need to get a tax ID if I am Landlord who also perform property management duties. I like to start a business with managing the properties that I purchase. I am living in California but buy properties at another state. Do I need to have a tax ID for both states as a sole propriortor. In two years, I’ll convert into an LLC. I want to get some business credit cards also under my proiperty management name.

Thanks,
PR

2

By definition, a sole proprietor is an unincorporated business. Your tax ID is your social security number.

No, as a landlord managing your own properties, you don’t need a separate tax ID number. All your rental property income and expenses are reported on Schedule E of your personal 1040.