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Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: Easy Does It FI on February 16, 2018, 08:07:07 PM

Title: LLC Implications Down the Road
Post by: Easy Does It FI on February 16, 2018, 08:07:07 PM

Aloha-

We have a house that we were planning to move into, but now will need to rent it out for a couple of years (holding the house is assumed).
As we move to rent the house, we're looking at transferring to an LLC (tax trade-offs of schedule E vs. 179, liability protention of our early next egg, etc.).

My question: When we eventually move back into this house, what would be the tax implications of transferring title back to our names out of the llc?

Title: Re: LLC Implications Down the Road
Post by: SeattleCPA on February 16, 2018, 10:15:18 PM

I see no tax reason you'd want to transfer to LLC. That LLC doesn't change the character of the income or deductions.

BTW, you don't get Sec. 179 depreciation on residential real estate...