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Updated about 2 years ago,
Vacation home / STR - record purchase under personal or LLC?
I have an LLC I use for my LTR's and other REI and recently purchased a vacation home/STR. It will be used as a vacation home but also an STR when I'm not using it for personal use.
I handle all my REI transactions under my LLC, but I also have a W2 job and my personal taxes are always significantly higher that my business taxes.
Is there any tax benefit on my personal taxes by recording this purchase under my name instead of the LLC? It was technically purchased/closed under my name but I typically move the deed under the LLC after closing.
Just curious if I can reduce my personal tax liability with the purchase of a vacation home, or if I should just treat this the same as my other LTR investments and capture everything under the LLC.
Thanks in advance!