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Updated over 5 years ago on . Most recent reply presented by

Justin Hutchins's profile image
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Justin Hutchins
  • Realtor
  • from Panama City, Fl.
  • Member since Aug 2, 2018
  • Posts 60
  • Votes 27
  • Experience 7 Yrs
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Justin Hutchins's profile image
Justin Hutchins's profile image
Justin Hutchins
  • Realtor
  • from Panama City, Fl.
  • Member since Aug 2, 2018
  • Posts 60
  • Votes 27
  • Experience 7 Yrs
  • Investments 2
Connect
Justin Hutchins
  • Realtor
  • Panama City, Fl.
27
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60
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Tax, SDIRAs & Cost Segregation

Rent the house you live in... to yourself?

Justin Hutchins
  • Realtor
  • Panama City, Fl.
Posted

Does any own the house they live in under their business and rent to yourself??

If so what re the pros and cons?

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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
Replied

You generally cannot convert personal, non-deductible expenses into deductible expenses by renting your personal residence to yourself...  IRC Sec 262.

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