A tax professional can help determine if you meet the criteria for deducting expenses in 2024. 

Here is what I said:"this is a controversial topic where there is no consensus between tax professionals."

These are professionals with additional training and a stricter code of ethics.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The Annual Owner Statement should break down all the expenses that the owner's tax professional then figures out how to deduct and on what tax schedule.So that way the owner can expense everything throughout the year?   

Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The actual mechanism for moving the LLC would be best to consult an attorney or tax professional.

If your friends have a rental they should hire a tax professional. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?