personal property under INC - do we have to pay rent

personal property under INC - do we have to pay rent

Member since 2023 · 1 post · 0 votes

Good morning,

I am looking for information regarding a property that is under an INC umbrella. We are the only shareholder within the INC but do we have to pay rent to the INC since we are living in this property. We have talked to multiple CPA's and lawyers but both point to each other. We understand that it is a fusion between a legal and accounting question both neither have been able to provide us with a definitive answer.

This is our last resort in finding the answers we are looking for.

Thank you

Kevin

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y

    If I understand you correctly, you own a property under a corporation but you were living in the property personally?

    to Ensure everything is legally separated, you could create a lease agreement between the corporation as the landlord and yourself as the tenant. Even if you just rent it for a dollar, at least there is a legal separation between you and the corporation.

    The DIY Landlord Book4.7248 Reviews
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