Discussion:Conversion of personal residence to senior homecare
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Revision as of 01:52, 9 March 2009
Discussion Forum Index --> Advanced Tax Questions --> Conversion of personal residence to senior homecare
Discussion Forum Index --> Tax Questions --> Conversion of personal residence to senior homecare
| 9 March 2009 | |
| I have a brand new client that formed a corporation in 2008 as an adult home care facility. So here is the kicker, she converted her personal residence into the senior home facility to the tune of over 80K. So they plan on living in part of the home and the rest that was converted will be for the seniors residing there. She will provide them with 24-hour care, meals, etc. So my question is since the business is a corporation and the house is her pesonal residence what do I do? Can the corporation rent part of her home? What about all of the money that was used to convert the house with ramps, ADA requirements, remodeling expenses? I tried searching and could not find anything that fit this particular situation. I'm at a loss on this one, any help would be greatly appreciated. | |
