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It only makes sense if you're going to rent it out, and actually operating as a business.
Buying it as a LLC if you're just going to live in it screws yourself out of the primary residence mortgage interest deduction. Plus there's a good chance a court will disregard it for liability purposes since it's clear that the business assets exist only for your personal use.
Oh yeah the cap gains thing is another good reason not to do this lol
For what purpose? You likely wouldn’t get the limited liability. You would have to have bank account for the LLC and every expense wouldn’t have to be paid for by the LLC.
That's not how taxes work...
Trick here is to maybe change your legal last name to have “LLC” at the end. Then name your LLC, your full legal name so it matches identically to your new legal name. Get the low personal interest rate but put the house in the LLC. Battabing battaboom
I’ve had an LLC in the past for consulting work in California. If the LLC is just you, as in you are the sole owner and have no employees, there is no tax difference between the LLC and you as an individual. I didn’t buy a house though so I don’t know any nuances specific to that process. It’s worth discussing with an accountant.
A single member LLC can file form 8832 to be treated as a corporation for federal tax purposes. Not clear why you'd want to do this but it is possible.