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?

1570

1 Best answer

New Member

Jun 4, 2019 5:51:43 PM

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

New Member

Jun 4, 2019 5:51:43 PM

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

Level 15

Jun 4, 2019 5:51:46 PM

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