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Updated over 8 years ago,

User Stats

125
Posts
61
Votes
Todd Willhoite
  • Attorney
  • Claremore, OK
61
Votes |
125
Posts

Tax implication of having my LLC manage rental held individually

Todd Willhoite
  • Attorney
  • Claremore, OK
Posted

I am purchasing a rental property in my own name in order to get conventional financing. I have an LLC with rental property in it. It would be easier to keep track of expenses and in renting the property to tenants to use the systems, forms, and bank accounts of the LLC. If I in my individual capacity contract with the LLC to manage my rental house, are there adverse tax consequences? (I am thinking it might turn passive income into active income, etc.)

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