Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago,

User Stats

6
Posts
2
Votes
Bryan Lowman
  • Rental Property Investor
  • Staunton VA 24401
2
Votes |
6
Posts

Creating an LLC to do repairs on rental property

Bryan Lowman
  • Rental Property Investor
  • Staunton VA 24401
Posted

Hello all

Looking to sell my first rental property that was previously my home. I have rented the home for over six years now and am wanting to sell it now. I will not be doing a 1031 due to the current market conditions in my area. I need to do several repairs to the home before I list it on the market and was hoping to do the repairs myself. From what I have been reading it seems that I will only be able to deduct the cost of the materials for the repairs and not the labor because I will be completing the work myself. Would creating a LLC and billing the repairs through the LLC be the best way for me to reduce the taxes on selling of the property?

Thanks for all of the help in advance!

B