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Updated almost 3 years ago,

Sally Forth's profile image
Sally Forth's profile image
Sally Forth
  • Member since Mar 8, 2022
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Sally Forth's profile image
Sally Forth's profile image
Sally Forth
  • Member since Mar 8, 2022
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Sally Forth
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Tax, SDIRAs & Cost Segregation

LLC Loan Taxable Event?

Sally Forth
Posted

Hello, we have had an investment property in an llc for many years.  We now want to take a loan against the llc property and use the loan money as a downpayment on a vacation home.  The vacation home will be in our name and not the llc.  The vacation home will also be an income generating short term rental. Are we setting our selves up for a tax nightmare? Help!

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