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Updated 11 months ago,

User Stats

4
Posts
5
Votes
Amanda George
  • Homeowner
  • Phoenix, AZ
5
Votes |
4
Posts

RE LLC taxes (expenses, but no properties)

Amanda George
  • Homeowner
  • Phoenix, AZ
Posted

My partner and I started a LLC in January 2023 with the intent to purchase an investment rental property. But 2023 interest rates soared and we couldn't find a deal that worked. In the process, we did incur expenses for travel to our target city to view properties, inspection fees, and legal fees for setting up our LLC. Since we have zero income, I'm not inclined to pay a CPA several hundred dollars to do our taxes, so I'm trying to do it myself. Do I need to use form 8825 to report the expenses, even if we have no properties? The form seems to assume you have at least one property.

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