Investors & landlords

Yes; virtually all of your deductions are not "ordinary business" deductions but deductions related to the LLC's portfolio of rental properties (i.e., the LLC would have no reason to exist beyond owning rental real estate).

 

The LLC can also use the de minimis safe harbor for items, other depreciable, such as the cell phone thereby deducting the entire amount in the tax year in which the item was purchased.

 

With respect to expenses, such as tax software, you can allocate or you can deduct the expense from the income of one property.

 

 

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