turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Yes No
cassheff
Level 2

Rental property

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

 

posted
‎January 26, 2022 9:44 AM
last updated ‎January 26, 2022 9:46 AM
0
1
704
Reply
Bookmark Icon
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
ColeenD3
Expert Alumni
Expert Alumni

Rental property

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.

‎January 26, 2022 9:51 AM
691
Reply
Bookmark Icon

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Featured forums
Taxes
Lower Debt
Investing
Self-Employed
All topics

Unlock tailored help options in your account.

Live Assisted: Get answers to all your tax questions! Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Live Assisted. Explore your options!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

AndyMarty
Nick970
Nick970
paris-taylor615
christinajvincent