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Putting Rental into LLC - Landlord Forum thread 355423

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Putting Rental into LLC by John (Maryland) on December 20, 2017 @14:27

So I already have an LLC (personal business) but it's computer related and I've been in operation for about a year. This recent Trump tax bill (which passed today) will lower my overall taxes for my LLC. However, I've never really considered putting my rental into another LLC.

My understanding is that rental income is considered pass-thru income. As a result we report it on our federal income tax return. However will the pass-thru entity tax reduction also include rental property? Or does it need to be in an LLC to qualify?
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Re: Putting Rental into LLC by Don (MO) on December 21, 2017 @11:18 [ Reply ]
It depends on the tax status you elect for your LLC. If you go with the default, it is a DISREGARDED ENTITY (assuming this is a single member entity which it sounds like). With a disregarded ENTITY, the LLC would not even file a return.

You as the owner would file it on your personal return. If your LLC is a disregarded ENTITY, it should have no effect (negative or poaitive) on your taxes as opposed to owning it personally. The benefit of an LLC comes in the form of the asset protection an LLC provides.
Re: Putting Rental into LLC by Sunny (FL) on December 24, 2017 @08:32 [ Reply ]
As far as I know, S Corp is an entity that you can have a pass-through deduction
Re: Putting Rental into LLC by Doug on December 29, 2017 @17:08 [ Reply ]
MY properties are in LLC's that are pass throughs. It all depends on how it's set up.

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