KrisD15
Expert Alumni

Business & farm

No, the LLC cannot claim depreciation if it does not own the property. 

 

 

It is possible for the LLC to lease the house. A "Gross Lease" or "Full Service Lease" would make the LLC responsible for paying property tax, in which case it could be claimed as a business expense. The owner(s) of the house would then need to file Schedule E and claim the rent income and the depreciation. 

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