Owner Occupied to LLC Tax Question

[Bob McIntosh]

So I am in the process of buying a 2 family property. I will be living there and renting out the other unit. Now I know that putting a property into an LLC is generally touted as the best way to protect yourself, however I am wondering the following.

If I transfer my owner occupied property into an LLC will that in any way negate the items I can deduct from my personal taxes? In other words, will I still be able to deduct for example my interest paid on the Loan from my personal tax return by doing this? Would there even be any benefit of putting a property like this into an LLC?

Thanks for your input!