Paying Property Taxes on a Rent to Own Property

[Holly Scanlon]

Hi all,

I have 2 SFH that I am subleasing out. The owner and I have a seller financing agreement, I pay him monthly and I collect rents from the tenants. I also pay all taxes and insurance. I had been doing this all through my personal accounts. Last year when I filed my taxes, I could not claim any of the taxes or expenses because the houses are not in my name. I recently created a LLC, property management company and now all my transactions flow through the business. Am I able to claim all of my expenses now? If so, how do I do that? Does it involve 1099 with the owner? Any advice would be greatly appreciated. Thank you.