Is personal money funded to business account a loss of income or does money get counted as lose from expenses of the remodel deductions (capital/current expenses)

jadem-brown05 · ‎June 5, 2019

I own 2 rental properties 1 is rented other is being remodeled. I use personal funds deposited via check into my business account (LLC). Do I keep track of all money funded to business account as a loss of income or does the money get counted as loss from expenses of the remodel through deductions (capital and current expenses)?

Anita01 · ‎June 5, 2019

The cash you contribute is not a part of income for the business, nor is it a loss of income. Rather, the expenses paid with the cash are used as improvements that increase the asset value or expenses for the business which lower the business profit.

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Is personal money funded to business account a loss of income or does money get counted as lose from expenses of the remodel deductions (capital/current expenses)

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