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Updated over 8 years ago on . Most recent reply

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120
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57
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Joe Au
  • Investor
  • Draper, UT
57
Votes |
120
Posts

Claim business expenses when filing tax

Joe Au
  • Investor
  • Draper, UT
Posted

Do you have to have an LLC in order to claim real estate related business expenses? If not, how many deals do you have to do per year so that you are consider as running a real estate business?

Most Popular Reply

User Stats

68
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52
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Dave Holland
  • Certified Public Accountant (CPA) / Investor
  • Homer, NY
52
Votes |
68
Posts
Dave Holland
  • Certified Public Accountant (CPA) / Investor
  • Homer, NY
Replied

@Joe Au

No you certainly do not need to have an LLC in order to claim business expenses, you simply must be operating as a business. If you haven't formed a business entity you would be a sole proprietor.

Let me know if you have other questions. 

  • Dave Holland
  • Loading replies...