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If I own a garage seperate from my residence, can I rent that space to my sole proprietorship or LLC and write off the rent as an expense?

 
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JulieH1
New Member

If I own a garage seperate from my residence, can I rent that space to my sole proprietorship or LLC and write off the rent as an expense?

Yes, but then you will also have to include the money the LLC pays to you personally as income.  

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2 Replies
JulieH1
New Member

If I own a garage seperate from my residence, can I rent that space to my sole proprietorship or LLC and write off the rent as an expense?

Yes, but then you will also have to include the money the LLC pays to you personally as income.  

If I own a garage seperate from my residence, can I rent that space to my sole proprietorship or LLC and write off the rent as an expense?

 Probably, but then you would have to report the income as taxable on your personal return. 

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