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Updated about 5 years ago, 09/20/2019
Expense Write Offs - LLC Title & Personal Mortgage Loan?
I am a newbie in RE investing and I humbly ask for your educated opinion and guidance.
I want a single family unit titled under my LLC in partnership (lender is fine with LLC title)
I want the cheaper residential mortgage rate vs the commercial loan (1+ point)
My S corp will pay a stable rent to my LLC for the business use of the unit.
1. I think my S corp can fully deduct the rental expense as a necessary operating business expense (storage, office, etc)
I understand that if my LLC holds the mortgage it can deduct all mortgage related expenses (interest, tax, insurance, etc)
2. Can my LLC deduction all mortgage related expenses if the mortgage is under my name even thought the 1098 will have my SSN sent to IRS?
Best regards.