jb005 Posted February 27, 2021 Report Share Posted February 27, 2021 Don't typically have this on a partnership return, but this LLC contains a rental property which is rented out, but also used personally by the members. I understand the allocating expenses between personal use and fair-rental use, so no issue there. Where I'm having a problem is for things that are "direct" expenses, in particular commissions and reservation fees. These are only charged against rental income for the fair-rental use days. It seems unfair to have to allocate these types of fees based on the personal/fair rental use ratio. Am I overlooking something here? Thanks in advance. Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted February 27, 2021 Report Share Posted February 27, 2021 36 minutes ago, jb005 said: It seems unfair to have to allocate these types of fees based on the personal/fair rental use ratio If those expenses are related to the rental use only then I see no reason to allocate to personal use. BTW, welcome to the community here jb005. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.