Vanessa A
Expert Alumni

Investing

The LLC is completely irrelevant if you are a single member LLC.    When you are a single member LLC, it is considered a disregarded entity.  This means for everything tax wise, it is as if the LLC does not exist.  You will track everything as if you are an individual.  There is no return of capital, and no contributions.  What you paid for the property is your cost basis.  You would track this on a spread sheet or your own records.  

 

Your down payment is not deductible.  Repair costs would be entered as expenses. 

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