Anonymous
Not applicable

Deductions & credits

if this house is for your residence, it makes no sense for it to be in an LLC.   most states have an annual fee for an LLC sometimes as much as $500.     you might be better off with a umbrella liability policy.    even if it is to be a rental, an umbrella policy might still be advisable.  in some states, tenants have been able to successfully  sue LLC owners.    best to check with lawyer in state property is located to get advice.