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Updated about 11 years ago,

Mina G.'s profile image
Mina G.'s profile image
Mina G.
  • Rental Property Investor
  • from Jersey City, New Jersey
  • Member since Sep 17, 2013
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User Stats

88
Posts
7
Votes
Mina G.'s profile image
Mina G.'s profile image
Mina G.
  • Rental Property Investor
  • from Jersey City, New Jersey
  • Member since Sep 17, 2013
Connect
Mina G.
  • Rental Property Investor
  • Jersey City, NJ
7
Votes |
88
Posts
Tax, SDIRAs & Cost Segregation

LLC tax benefit (owner occupied multifamily house)

Mina G.
  • Rental Property Investor
  • Jersey City, NJ
Posted

I own a 2 family house in NJ. Currently if I make any repair in the house I can only deduct half of it on my tax return since its 50% owner occupied and 50% rented.

If I open an LLC will I be able to deduct 100%? is it worth it?

Will I be able to do that with my current FHA mortgage?

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