Clarkjd
Returning Member

Business & farm

Thank you for your help. I guess its still unclear if running income/expenses through the LLC will allow me to purchase in the LLC? I understand its taxed the same.

 

We can split everything but if I am not on the mortgage I will show income with no expenses outside of repairs and miss out on depreciation, interest and the mortgage at whole creating much more taxable income. Does it make more sense for him to claim everything?