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Updated about 7 years ago,

User Stats

30
Posts
8
Votes
Michael O'Brien
  • Saint Louis, MO
8
Votes |
30
Posts

Primary residence and renting - 20% pass through deduction?

Michael O'Brien
  • Saint Louis, MO
Posted
I just bought my first house and was wondering if it would be beneficial to make it an LLC for the 20% pass through deduction. My girlfriend is paying half the mortgage which would come out to a bit over 5k per year. Should I make her a formal renter and setup an LLC for the deduction? However you cannot take the new standard deduction of ~12k on top of the 20% pass through deduction correct? If that’s the case then it would not be beneficial to do the above yet

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