Tax, SDIRAs & Cost Segregation

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A Sanderlin
  • Alaska
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Business LLC owns Non-Business Assets

A Sanderlin
  • Alaska
Posted Sep 7 2022, 19:23

If a business llc BOUGHT land and BUILT a "non-business" vacation home, how do I categorize withdrawals made for that asset? For example, the business credit card is used to buy lumber at Home Depot for the vacation home. The business credit card pays for the vehicle lease that is associated with the vehicle that sits at that home. Are these Owner Draws?

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