I'll be setting up an LTC in a couple of months and selling my current residence to it to get the maximum tax benefits when I rent it out.
I understand how any income/loss flow to me personally.
I can't find information on what happens down the road when I eventually sell my rental property.
Is that money then distributed to me as a dividend (after paying back any balance in my current account)?
Does the LTC then have to be wound up? What does that involve?
Thanks!
I understand how any income/loss flow to me personally.
I can't find information on what happens down the road when I eventually sell my rental property.
Is that money then distributed to me as a dividend (after paying back any balance in my current account)?
Does the LTC then have to be wound up? What does that involve?
Thanks!
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