Investor · AL · Member since 2021 · 5 posts · 0 votes
Hi all, I am trying to open up an LLC for my first RE deal and I want to put cash into the LLC's account, once I've opened it without any taxation. Is there a limit to how much I can transfer to the LLC's account without being taxed? Does it follow the same personal gift tax guidelines? I have about $100,000 dollars that I want to put into my LLC to get it off the ground, but I'm worried about tax implications. I know that I can gift any one up to $16,000 without taxation - does this fall under the same guidelines?
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
3y
The amount you put into an LLC is considered a contribution if you are a member of the LLC. However, you should follow the LLC / Partnership agreement to determine what your contribution requirements are, especially if there are other members involved.