Level 15

"eventually, no business function, no income generated until/unless the property is sold."

You want help determining which expenses you can put on the 1065, which is not really operational and has no income, and then pass it through to the very people that are trying to avoid ownership of their own residence, and are not paying rent, or paying rent to their own entity? And you think that won't be a problem until it sells?

Rental income is taxable, and self-rental income has limitations for expenses, so that is either nondeductible losses or taxable income.

I think you need to read up on:


Passive loss

"Level Up" is a gaming function, not a real life function.
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