I own an apartment in a major US city that I haven’t lived in for a while. So, I am going to rent it out. What do I need to do? Should I move the property into an LLC? I have done some work on it recently to get it ready for a renter. Is this all tax deductible or does it count as a business expense even though it isn’t in an LLC yet?
I have a real estate agent coming in this week to take pictures and have it listed.