Election

[Unregistered]

I have a costomer that owns a building and the title is on his name. He also own a S-Corp under a diffrent name. And he uses the building under the S-Corp. Question can he deduct the interest under the S-corp without renting the building to himself? I heard that their is a election for this. If you no give me the election ref or code number

[Uncle Sam]

Title vs ownership of Real Estate

From what you're describing, a building that is supposed to be personally owned, is being treated for tax purposes as a corporate asset, and depreciated by the corporation because it's a tenant?
Looks like your client has problems.
Before you go any further, I suggest you search and look to see how the property is actually titled at the local government recording office, and look at the insurance policy to see how it's insured.
It is POSSIBLE, but not a sure thing, that the S Corp owner contributed the building to the corporation in exchange for his stock. In that case, look at the capitalization of the corporation to see if it was properly recorded.
It is not wise at all to place real estate in the name of a corporation. It is usually held in the form of LLCs or partnerships. Without going into great detail here, there are both income tax and estate tax consequences having a corporation (especially an S Corporation for a period of less than 10 years) own real estate.
Perhaps you should seek the advice of a competent attorney to rectify this matter.