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Would I split the amount of the building 50/50 then? So if the building cost 220k then 110k to depreciate for 27.5 years on sch e and the other 110k to deprecia...
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I have a client that owns a duplex where she rents half of it out to tenants and her sole proprietorship uses the other half. For depreciation, I believe the bu...
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I thought about this however, the taxpayer does not want to do the election since they do not want to worry about reasonable comp and the payroll taxes
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So the owner is not living on this property, they are renting half out to their LLC business and the other half out to tenants.
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I have a client who owns a business (LLC) that rents a unit from her other LLC that owns the residence. Would I report the rent as an expense under Sch C and th...
