LaraMultiservic es
Level 3
04-19-2021
12:27 PM
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Taxpayer purchased a property for $120,000, he then granted this property to his wife's LLC for $100. Would the LLC be able to claim depreciation for the cost of the property ($120,000) ?
P.S. If the LLC cannot claim the depreciation, would he claim this property as a loss? If so, where would this "loss" go?
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