Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

11
Posts
2
Votes
Mario Nacev
  • Contractor
  • New York City
2
Votes |
11
Posts

Running #s on a charitable donation

Mario Nacev
  • Contractor
  • New York City
Posted

Hello I am hoping someone can walk me thru the following hypothetical situation:

Property purchased by an LLC

Rented to Charity for: X

Rental Income contributed back to Charity 100%: X

Please describe what this would look like on year end taxes; including possible filing as an S-Corp vs Pass thru to Personal.

My personal Federal Rate is 28%. I file in NY State. LLC can be formed in another state if tax incentives to do so exist

My research so far I believe that the yearly rental income although donated would still be taxed as Income, and then after words the deduction applied.

Much appreciated.

Regards,

Mario

Loading replies...