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Tax, SDIRAs & Cost Segregation

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David G West
  • New to Real Estate
  • Seal Beach, CA
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7
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Cap Gains on Re-entering ownership

David G West
  • New to Real Estate
  • Seal Beach, CA
Posted Mar 25 2024, 12:44

Hi,

We bought a property last year thru an LLC and the previous owner was there for 2 years so he sold it with no capital gains.
For various reasons, we are partnering with the previous owner again and adding him as a partial-owner of the LLC and therefore the property. 
How would that affect his tax situation if at all?

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