Do I have a self-rental if my business only rents 51% of the building? I am a member of an LLC that owns a building and my law firm Professional Corporation rents 51%.
Do I have a self-rental if my business only rents 51% of the building? I am a member of an LLC that owns a building and my law firm Professional Corporation rents 51%.
Yes. If you rent property to a trade or business activity in which you materially participated, net rental income from the property is treated as nonpassive income.
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Do I have a self-rental if my business only rents 51% of the building? I am a member of an LLC that owns a building and my law firm Professional Corporation rents 51%.
Yes. If you rent property to a trade or business activity in which you materially participated, net rental income from the property is treated as nonpassive income.
**Say "Thanks" by clicking the thumb icon in a post **Mark the post that answers your question by clicking on "Mark as Best Answer"
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