Rent to Myself

[Lacey A.]

Is it legal, per the IRS, to rent my primary home back to myself? 

I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but the repairs can’t wait. 

[Joshua Tucker]

Hello @Lacey A.,

Renting your primary home back to yourself isn’t typically allowed by the IRS for tax purposes, even if structured through an LLC. The IRS views this as a related-party transaction, and deductions like rent paid to yourself wouldn’t qualify. You might consider other strategies, like taking a home equity loan or refinancing to fund repairs, but consulting with a tax professional or CPA would be the best next step for your specific situation.

Hope this helps!