Are there tax advantages in purchasing a house with a group of people under a LLC?

  • Are there tax advantages in purchasing a house with a group of people under a LLC?

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    Question by Ian: Are there tax advantages in purchasing a house with a group of people under a LLC?
    If my sister and her husband were to purchase a house with my fiance and myself under a LLC, and we were all to live there, are there tax advantages to be gained from that? Also, any advise (other than, “get a lawyer”) you would like to add to the idea would be appreciated.

    Best answer:

    Answer by knr0719
    There would be, but for 4 people, not that great. Why not set up your own LLC and purchase the house?

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