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Level 1
June 1, 2019
Solved

Does single owner rental property expense election effect multi owner LLC rental property?

does the election for improvements apply if I am sole owner of property and also a member of a multi member LLC owning rental property.  Specifically can I take cost of improvements on solely owned property and not effect the depreciation rules for the LLC?


CaronMAnswer
Alumni - Intuit
June 1, 2019

Yes, you can make elections for each property separately.

1 reply

CaronMAnswer
Alumni - Intuit
June 1, 2019

Yes, you can make elections for each property separately.