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If this is a single family unit, lenders won't let you hold it as a borrower in an LLC. If it's 5 units or more, they'll only want you to hold it as an LLC. If your client is committed to it being rental, just accumulate the tax losses. They'll help ...
Thanks Jim for the feedback! I just learned that the owner plans to convert the rental into his own residence in about 5 years, and make it his retirement home. Do you know if that conversion will allow him to unlock and recognize the suspended losses, ...
Good morning Michael, The tax implications are the same for the individual if they own a rental property as an individual or through an LLC. If the individual's AGI exceeds the limits for deductibility, the losses are suspended and carried forward ...
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