sjrcpa
Level 15

The only thing I see potentially deductible by the members is their share of the real estate taxes. But if they are already over the $10K SALT limit, no dice.

They can't deduct the interest because it does not meet the requirements for home mortgage - i.e. they do not own the home secured by the mortgage. The LLC owns it.

Who are the other 2 members? The minor children?


Ex-AllStar