katie1234
New Member

Deductions & credits

Thank you!

 

To answer your question, yes, I own the home and want to rent it to my LLC that I've made an S corp election for but the rental period is less than 15 days under the rule in Sec 280A(g).

 

I've read a number of articles that seem to indicate it's okay to rent your home to your own business, as long as you note the purpose of the rental (such as a meeting or other event); ensure you don't exceed a reasonable price based on what nearby venues charge; and issue yourself a 1099.

 

My only hesitation in doing this is because of my single shareholder status and if renting space for meetings for one person to meet is valid. Would this be flagged? Interestingly, though, even single shareholder S-Corps are required to hold shareholder meetings, which seems weird to me. But if that's a requirement, then can I justify renting meeting space to hold these meetings?