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June 5, 2019
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Can llc pay a partner for gas used in rehab of house for flipping

  • June 5, 2019
  • 1 reply
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My partner and I purchased a house for flipping.  He's a Realestate broker and used his truck to transport materials for the repair of the house.Can the llc pay him for gas used?

    Best answer by Vanessa11_2

    Yes, the LLC can reimburse a partner for gas expenses.

    1 reply

    Employee
    June 5, 2019

    Yes, the LLC can reimburse a partner for gas expenses.

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    cdrisomAuthor
    June 5, 2019
    Does he have to give the llc any documentation before being paid?  Is it income for him?  Is it a deduction for the llc on the 1065?