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Updated over 9 years ago on .
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Can You Pay Your Own LLC Rent?
Hello,
I currently own investment properties in Buffalo NY, which are each treated as an LLC, and a single family home in which I live in San Antonio TX. Is it possible/legal for me to transfer the ownership or sell my home to my corporation, or to another one I file, then pay myself rent, as well as deduct repairs and other property expenses that you cannot deduct from your personal residence through that corp?
Most Popular Reply
I'm certainly no expert but will get the ball rolling. In Texas you have the homestead legal / tax benefit on your primary home so would think by moving your personal residence under a LLC structure you jeapordize those benefits.