All Forum Posts by: Sean Sweeney

Hello,

So currently I own 3 separate multifamily properties. Each is in a separate LLC. For simplicity sake, Lets use the following numbers.

LLC 1: Net income $20,000. Depreciation 30,000 a year. Paper loss of $10,000

LLC 2: Net income $40,000. Depreciation 20,000 a year. $20,000 taxable income.

LLC 3: Net income of $20,000. Depreciation 30,000 a year. Paper loss of $10,000.

Even though each property is held in a separate entity, can I use the "extra" depreciation from LLC 1 and 3 and apply it to LLC2 as well? So for tax purposes, can I report it as total income of $80,000 with depreciation shelter of $80,000 resulting in no income taxes due?

Hi guys,

We recently purchased a portfolio of triple net lease properties throughout Nevada. I live in California. The property is held in an LLC. Nevada does not have income tax but California's state income tax is close to 10%. Will I owe any state taxes?