Purchase Costs Incurred Before House Is Transferred To An LLC
I want to purchase a house, then immediately deed it to an LLC.
Question, how so I deduct the costs I incurred when I purchased the house (real estate commission, closing costs etc). Doe these expenses just increase the basis of the house to the LLC, so that when the house is sold in the LLC, there is less of a gain (since the commission etc has been added to the basis?
Thanks for the help,
JB 8-)
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