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Can I deduct business-related expenses from income generated by passive real estate investments sitting within a LLC? (e.g., legal fees, travel to find new investments)

 
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Can I deduct business-related expenses from income generated by passive real estate investments sitting within a LLC? (e.g., legal fees, travel to find new investments)

Can you deduct ordinary and necessary expenses related to your real estate investment from the income generated by your real estate investment? Yes.

 

Can you deduct ordinary and necessary expenses related to your business from income generated by your real estate investment? No.