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Updated over 5 years ago on . Most recent reply

renting from yourself
are there any benefits to moving your personal property into your LLC and then renting it from yourself?
Most Popular Reply

The IRS automatically considers single member LLCs as a disregarded entity. You wouldn't be able to create a tax loophole for the mortgage interest since it would still be claimed on your personal return.
You would however incur numerous costs associated with transferring title and maintaining an extra LLC filing with the state, as well as many states incur an annual rental fee, and could lose out on any capital gains exemption when you sell the home as well as homestead protections.