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LLC for Private Airplane and schedule C
Filling out a scheduled C. I established a LLC for a private airplane. Unfortunately, the airplane was registered under myself and not my LLC. Can I deduct the hanger fee, interest on loan,insurance, jet fuel, etc, I needed for the plane? Does the plan need to be registered under the LLC to claim expenses under the LLC? Is there any easy way to transfer the registration from myself to the LLC, without doing a "sale" and repaying all of the sales tax again.
‎February 18, 2021
5:27 AM