Can someone help me here? If I can purchase a home for cash either personally or through an LLC, wouldn’t it make sense to purchase thru the LLC, choose to have the LLC get taxed as a corporation (21% tax rate) lease back the home and pay rent to the LLC, and let the LLC legally deduct depreciation and property taxes ( beyond the 10k limit if held personally) and other expenses? The depreciation plus expenses would offset most of the rental income. I don’t care about the 500k cap gain exclusion because I’ll let my heirs inherit the home. What am I missing?
