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Updated over 7 years ago on . Most recent reply

Joel Brown's profile image
Joel Brown's profile image
Joel Brown
  • Investor
  • from Grangeville, Idaho
  • Member since Feb 12, 2017

User Stats

85
Posts
34
Votes
Joel Brown's profile image
Joel Brown's profile image
Joel Brown
  • Investor
  • from Grangeville, Idaho
  • Member since Feb 12, 2017
Joel Brown
  • Investor
  • Grangeville, ID
34
Votes |
85
Posts
Buying & Selling Real Estate

Holding rentals in an LLC and 1031 exchanging.

Joel Brown
  • Investor
  • Grangeville, ID
Posted

My accountant informed me that if I hold my rental in an LLC, and I 1031 exchange it and I die there is no step up in basis. I would have to hold it personally for my family to get that tax forgiveness. Any other downsides to holding real estate in an LLC?

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