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jadem-brown05
New Member

Is personal money funded to business account a loss of income or does money get counted as lose from expenses of the remodel deductions (capital/current expenses)

I own 2 rental properties 1 is rented other is being remodeled. I use personal funds deposited via check into my business account (LLC). Do I keep track of all money funded to business account as a loss of income or does the money get counted as loss from expenses of the remodel through deductions (capital and current expenses)?


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Anita01
New Member

Is personal money funded to business account a loss of income or does money get counted as lose from expenses of the remodel deductions (capital/current expenses)

The cash you contribute is not a part of income for the business, nor is it a loss of income. Rather, the expenses paid with the cash are used as improvements that increase the  asset value or expenses for the business which lower the business profit.

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1 Reply
Anita01
New Member

Is personal money funded to business account a loss of income or does money get counted as lose from expenses of the remodel deductions (capital/current expenses)

The cash you contribute is not a part of income for the business, nor is it a loss of income. Rather, the expenses paid with the cash are used as improvements that increase the  asset value or expenses for the business which lower the business profit.

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