Pass through Tax : ezLandlordForms

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Pass through Tax

Bill A

started a topic almost 7 years ago

Hello, Trying to assess the new pass through tax that is being passed. What are the requirements to be eligible for this tax break? Do you need to have your rental property set up as an llc? Will I still be eligible without an LLC? At the moment I only have 1 rental unit. Please any advice would be helpful.

1 Comment

Christine C

said almost 7 years ago

I, too am interested in this question. I found some information on the following website: https://www.nolo.com/legal-encyclopedia/how-the-republican-tax-plan-affects-landlords.html that may shed some light. Upon a preliminary scan, it appears the new tax law creates a new deduction in addition to other rental related deductions - a benefit to us as landlords. I'm not sure if you have to be an LLC to qualify, but I'll keep searching for more info on this. Christine C (New Jersey)