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Updated over 2 years ago on . Most recent reply

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Chris Diaz
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Chris Diaz
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General Real Estate Investing

Michigan based LLC

Chris Diaz
Posted

Can my Michigan based LLC purchase my own personal property?

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Drew Sygit
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Drew Sygit
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Drew Sygit
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Drew Sygit
#2 All Forums Contributor
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  • Royal Oak, MI
Replied

@Chris Diaz why?

A purchase will uncap the Taxable SEV and lead to other IRS tax issues.

Typically, you would just Quit Claim a rental into your single-member LLC, which does not trigger any of the above issues.

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