Monday, May 3, 2010

Rental Property Question:

bob said...
Rental Property Question:
I have a C Corp and would like to rent out my 2nd home to my C Corp. From what I have read this seems possible. Can you tell me what I would need to do this, and is this a smart thing to do?
So far I have gathered a sample lease agreement, and all my mortgage info. Income vs. Expenses, do I fill out a 1040 (Schedule E) at the end of the year for rental income, as far as expenses can I write off (interest, depreciation, utilities, maintenance, interest on 2nd mortgage)?

Thanks.