Need Advice: Capital Gain Tax in California
I wanted to tap into the advice from the group: we have a property that has turned into rental in early 2018 but was our primary residence for 5 years before that. If the house were to go on the market, would the gains be subject to the Cap Gain tax?
The property is currently a rental and has been moved into an LLC early last year. Also, how difficult is it to sell a property from the LLC versus an individual ownership?