20% tax break for jointly held rental properties
My wife and I own two rental homes. Do we need to create an LLC to capture the 20% tax break or is the schedule E enough to satisfy it?
Thanks for visiting the site and posting on the forum. Unfortunately, we can’t give specific tax advice on rental properties. I recommend reading our articles on rental property tax deductions and benefits and how to start a real estate LLC for more information. If you still have specific questions, it’s best to speak to your tax professional.
All the best,