Business Structure Help

[Runman]

I got but another question for everyone

When owning a rental property personally as opposed to via a corporation, does one just own the property under a sole prop.

Thanks for your insight!

Josh

 

[AndyLuchies]

Yep.

 

[AndyLuchies]

We split our ownership 50/50 between me and my wife for tax reasons.

 

[Thomas Beyer]

QUOTE (Runman @ Apr 24 2010, 09:52 PM)
When owning a rental property personally as opposed to via a corporation, does one just own the property under a sole prop.


Sole prop. is just a name for a business held personally .. i.e. "Joe's Plumbing" is really Joe Smith employment/other income co-mingled with the pluming business.



Pro`s and Con`s of creating a company for real estate holding:

http://myreinspace.com/public_forums/Real_Estate_Discussion/62-10292-54272-To_create_a_company_or_not.html#54272

 

[TomRebstock]

QUOTE (Runman @ Apr 25 2010, 12:52 AM) I got but another question for everyone

When owning a rental property personally as opposed to via a corporation, does one just own the property under a sole prop.

Thanks for your insight!

Josh

I just wrote an article about this inquire tomrebstock@teksavvy.com

 

[kboughen]

QUOTE (Runman @ Apr 25 2010, 12:52 AM) When owning a rental property personally as opposed to via a corporation, does one just own the property under a sole prop.
When holding rental real estate personally, it is not required to register a business, the properties are included in your personal tax return using the Statement Of Real Estate Rentals Schedule.