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%.
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1 Best answer
MaryK1
Level 9
Jun 4, 2019 3:07:37 PM
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.
1 Replies
MaryK1
Level 9
Jun 4, 2019 3:07:37 PM
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.