Partnership LLC Taxes
If I were to form a multi-member LLC as a partnership, with a 50/50 stake in the LLC, it should be regarded as a pass through entity.
Does this mean that buying House A in this LLC is equivalent to buying House B on my own, as far as taxes go? Are there any pros or cons between these two scenarios?
Thanks!
House A
Purchase price: $100,000
Income: $24,000
Deductible expenses: $12,000
House B
Purchase price: $50,000
Income: $12,000
Deductible expenses: $6,000