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Updated about 2 years ago,
LLC for rental properties
I am considering creating LLC for my rental properties. I am currently on W2, and my wife and I file taxes jointly. Right now the profit/losses from my rental activities are listed on Our AGI does not allow us to deduct losses through passive income. I question how I can structure the LLC to allow us to lower our AGI using passive activity losses. We are in Texas (community property state)
Appreciate your input.
Thanks,
Anand.