Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago,
Business LLC owns Non-Business Assets
If a business llc BOUGHT land and BUILT a "non-business" vacation home, how do I categorize withdrawals made for that asset? For example, the business credit card is used to buy lumber at Home Depot for the vacation home. The business credit card pays for the vehicle lease that is associated with the vehicle that sits at that home. Are these Owner Draws?