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Updated almost 5 years ago on . Most recent reply
Tax Deduction Question
I have a question for anyone who experience in this. I am small real estate investor, done couple flips and have couple rentals. I have bought a new property for myself and family to live, the property comes with a large shed, where I intend to keep all my materials from flips and rentals, lumber, tools, random appliances. I am wondering, would I have benefit from buying the shed in my rental LLC so I could deduct some of the depreciation, some repairs that it would require and even maybe some of the property tax. My CPA doesn't seem to have a great idea on how to structure the deal. Love to hear some ideas! Thanks.