lilian
Level 2
‎04-26-2022 01:38 PM

What is a closely held corporation?   Can you give the revenue ruling for self-rental property.?

Example:

An individual who owns a house or a building and rented out to a C-Corp which also own 100 %  by this individual.  Is this considered a self-rental?

 

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Terry53029
Level 14
Level 14
‎04-26-2022 01:54 PM

See link for closely held corp: https://www.law.cornell.edu/wex/closely_held_corporation.

Self rental: https://www.thetaxadviser.com/issues/2008/aug/avoidingtheself-rentaltrap.html.

 

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