Transfer Rental Property from One LLC to Another LLC

[Mak K.]

Hi,

I need to transfer a property from A1 LLC to another B2 LLC. It is paid up property with no mortgage or leins.

> What is the process and how much does it cost? Is it something DIY?

>For the Tax returns, how does the transfer show ? Does the purchase cost from original A1 LLC get transferred to B2 LLC? How do we move the cost basis, depreciation from one LLC to another?

[Charles Carillo]

@Mak K.

Speak to your real estate attorney and CPA. The attorney can assist with making the transfer but first speak to your CPA and see what your tax liability will be; if anything.