Depreciation Being "Added Back" when held in 3 way LLC?
Hello All,
I am working on refinancing my own primary residence and owning my rentals in a multi-member LLC seems to be affecting my ability to "add back" the depreciation that this can normally be a done with when held personally. 3 lenders have told me this.
I wondered if good lender like @Chris Mason or one of the tax pros out there could comment on if this is a Federal rule or a bank "overlay".
I am trying to get a 30 years fixed Fannie or Freddie loan. We even went over my Form 1065 K-1 box by box. My 1/3 show a -$805 loss in box #2, and also shows a +$4200 in box #19 (distributions).
Am I just out of luck here? I have a second partnership with about the same figures too.
Thanks, Dan Dietz
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Contractor
- Red Stage Property Investments LLC
- 608-524-4899
- [email protected]