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Updated over 5 years ago on . Most recent reply
Investing regular income into my rental LLC is that a deduction?
I just purchased my first 3 rental properties with 2 mortgages. If I pay all of the expenses with my regular 9-5 income does that count as a tax deduction? And if it’s not what is it?
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Ashish Acharya
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
Pro Member
#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
Originally posted by @Ducote Kiernan:
I just purchased my first 3 rental properties with 2 mortgages. If I pay all of the expenses with my regular 9-5 income does that count as a tax deduction? And if it’s not what is it?
Ducote,
Yes it does. The expenses don’t have to be paid with the rents generated via rental activity.
Not all the expense are deductible though. Based on your post, I would recommend reading few 101 blogs or book on the rental finance.
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