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Updated over 2 years ago,

Jay Kenny's profile image
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Jay Kenny
  • Member since Aug 2, 2022
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Jay Kenny's profile image
Jay Kenny's profile image
Jay Kenny
  • Member since Aug 2, 2022
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Jay Kenny
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Tax, SDIRAs & Cost Segregation

Unusual LLC tax question

Jay Kenny
Posted

If I own an LLC that sells engineering consulting services for, say, $20,000 in a year, can I use that $20,000 to make a downpayment on an investment property, and then tell the IRS the LLC had $0 profit?

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