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Level 2
posted Jan 26, 2022 9:44:24 AM

Rental property

Is it beneficial from a tax perspective to open a LLC prior to renting my 2nd home? 

 

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1 Replies
Expert Alumni
Jan 26, 2022 9:51:49 AM

No, an LLC for rental property changes nothing, taxwise. A single-member LLC is considered to be a disregarded entity to the IRS, meaning you and the LLC are still one and the same.