Taxable income and expenses
Listening to the latest podcast with Natali Morris got me confused about what is considered taxable income from real estate and how the legal entity influences this.
She claimed that if I hold an investment property in my name, the entire rent is considered taxable income while if I hold an investment property through another legal entity (LLC, S-Corp) I can deduct expenses from rental income.
This is the first time I had heard of this distinction.
Can someone set me straight?