Corrado79
New Contributor
I currently have a couple of investment properties in different states, each owned with their own separate single-member LLC's. The single member is me as an individual.
I deduct my costs related to those LLC's directly from the income on their own Schedule E's. But I also have costs that are not exactly related to either one of the properties (e.g. costs related to my search for additional properties). I've heard some people using another, separate "miscellaneous" Schedule E to capture those costs.
Would it be preferable to set up an S-Corp to capture the costs of my active property searching?
Thanks in advance! :cheers:
I deduct my costs related to those LLC's directly from the income on their own Schedule E's. But I also have costs that are not exactly related to either one of the properties (e.g. costs related to my search for additional properties). I've heard some people using another, separate "miscellaneous" Schedule E to capture those costs.
Would it be preferable to set up an S-Corp to capture the costs of my active property searching?
Thanks in advance! :cheers:
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.