Avoiding residential $10K cap in 2018

[Austin Stowell]

I am curious what tax strategies people are planning to use to avoid the $10,000 cap on deducting property tax on a primary residence.

Has anyone considered quitclaiming a primary into an LLC and then renting that property from your LLC? At that point you could still claim the full amount of property taxes paid on your schedule E but you would also have to claim the rent you paid as well.

Certainly not a strategy for everyone but in very high tax properties, say with an annual tax bill of $20-30K, it becomes something to consider.

The risks being 

1) You lose the Homestead protections provided under Texas Law

2) You would lose the discounted tax rate from claiming it as your homestead.

Anyone ever think of doing this?