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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6224
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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Can a sole proprietor pay himself rent on a building he owns

Resolved Question:

Can a sole proprietor pay himself rent on a building he owns and runs his business in?
Thank You,
Fred
Submitted: 4 years ago.
Category: Tax
Expert:  Stephen G. replied 4 years ago.

Stephen E. Grizey :

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

Stephen E. Grizey :

No.

Stephen E. Grizey :

If he uses the entire building, he just includes the expense & depreciation in his schedule C.

Stephen E. Grizey :

If he uses part of the building & rents the remainder, he has to divide the building up proportionally and includes his part in his Scheule C and the rented part in Schedule E.

Customer:

I thinks he does use the entire building, and I'll need to clarify his ownership.

Customer:

Thank you for your time.

Customer:

Fred

Stephen E. Grizey :

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