LLC Property 50-50 Owned: Real Estate Professional Deduction on 50%?
The Real Estate Investor’s Guide to Tax Breaks, Risks & Red Flags
If property is in an LLC and still owned 50-50 by husband/wife, can we deduct using real estate professional status on 50%?
Question ID: 6604118 Status:
Open Jul 24, 2025 - 04:57 PM
1answer
Answer
Jul 24, 2025 - 04:59 PM
David, you said earlier that the property was on a Schedule E, which means it's a single member LLC. The property is *not* owned 50-50. It is owned by a single person in a single member LLC. That is the person that needs to be a real estate professional.
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