Renting out vacation home to our S Corporation Hello,
My wife and I recently purchased a vacation home (personally owned by us). We also own an S Corporation that provides consulting services.
For 2-3 months out of the year, our S corporation would like to rent the vacation home from us to use for business purposes.
Would the S Corporation be able to report this rental fee as a business deduction? And then would we report this as Rental Income on our personal tax return as well as deduct rental expenses (such as mortgage interest, property tax, HOA, etc)?
Any info would be greatly appreciated! |