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Updated almost 3 years ago,
How to qualify for the pass-through tax deduction
Hello! My husband and I are about to rent out our first single family home (which we currently live in), and was hoping to get some help here. We just created our LLC to help get the pass through deduction next year (besides the benefit of protecting our asset). Does anyone know if in order to get the business tax benefits, our LLC has to be in the lease name and all payments have to go through the business bank account? Or can it be my own within I own the LLC? Hoping to get some clarification here. Thank you in advance!