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Tax, SDIRAs & Cost Segregation

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Hamp Gaston
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tax question re: payoff

Hamp Gaston
Posted Dec 28 2009, 04:15

Group,
(disclaimer: I know I need to talk to a CPA, just trying to get a general idea of what I am dealing with).

I have a property that I decided to go ahead and payoff since I had the funds available to. The payoff was 60K. Is there anyway to deduct this against my gross income as a business expense to offset dividend income I have had this year?

I plan on trying to sell off this property in 2010 but not 100% sure.
The property is owned by my LLC.

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