Question
Business grouping, election
1.our primary home is in Seattle
- We bought an investment property In Denver 10/2023
- We open a home care business LLC on 11/2023 we did not start work yet no business income but we have start up expenses for the business
4.our plan is my wife an RN will run the home care business in our investment property
Questions
We are doing our taxes now
We want to do 469 elections
- When do we start grouping the business to avoid self-renting tarp, 2023 or 2024
- Book keeping, do we keep separate income/expense for the two business
- Does the home care business pay the rent to the investment property
- We have discount points ($10500) and property interest, ($4560) deductions when we bought the investment property, do use the for 2023 tax retune or wait for 1024 because we do not have in come yet for from the home care business
Thank you
Salih Hussein [phone number removed]
