All Forum Posts by: Brady Huf

Thanks for the fast reply Natalie. By "excess depreciation" I meant rental loss. Thanks for the term! I understand what you're saying - that's very helpful. 

I have follow-up question: 

If my wife's income is over $100,000 would we be better filing separately as mine is under, or is there an adjusted number to use passive loss against income for joint filing?

I have an S-CORP that I run my video production company through.

I am planning to start an LLC to purchase my first investment property.

Question 1:

Can I use excess depreciation from that property to offset taxes paid through my day job S-CORP?

I've seen something about passive income can be used if you make under $100,000 up to $25,000?

Question 2:

Can I somehow use this for my wife's income. She is a nurse. Maybe having her named in the LLC?

May be some dumb questions, just bear with me. I'm 23 and learning how this works...

I'll be taking to a CPA soon, but I want to get a bit better handle on first.

Similar question to above:

I have an S-CORP that I run my video production company through. 

I am planning to start an LLC to purchase my first investment property.

Question 1:

Can I use excess depreciation from that property to offset taxes paid on my day job S-CORP?

Question 2:

Can I somehow use this for my wife's income. She is a nurse. Maybe having her named in the LLC?

May be some dumb questions, just bear with me. I'm 23 and learning how this works...

I'll be taking to a CPA soon, but I want to get a bit better handle on