Updated over 7 years ago on . Most recent reply
Do I need to recapture depreciation during transfer of property
Do I need to recapture depreciation if I am transferring title into an LLC and assuming a new mortgage (commercial loan) under that LLC. I am the sole owner of 3 Single Family Rentals and am transferring the title of each property into an LLC with 4 partners and establishing a new commercial mortgage for all properties under the LLC. As an individual, do I need to recapture depreciation on my taxes based on this transfer?