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A Wave of Zoning Law Changes Could Have Huge Impacts for Investors and Housing—Here’s What You Need to Know
The U.S. is facing a housing deficit of about 3.2 million units, and the situation is especially dire in urban areas like New York. It’s one of the reasons prospective homebuyers are finding […]
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Tax, SDIRAs & Cost Segregation
HomeForumsTax, SDIRAs & Cost SegregationCapital gain tax exclusion after property transfer to LLC
Raj Kumar's profile image
Raj Kumar's profile image
Raj Kumar
  • Investor
  • from Charlotte, North Carolina
  • Member since Apr 9, 2014
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Raj Kumar's profile image
Raj Kumar's profile image
Raj Kumar
  • Investor
  • from Charlotte, North Carolina
  • Member since Apr 9, 2014
Connect
Raj Kumar
  • Investor
  • Charlotte, NC
4
Votes |
12
Posts
Tax, SDIRAs & Cost Segregation

Capital gain tax exclusion after property transfer to LLC

Raj Kumar
  • Investor
  • Charlotte, NC
Posted Apr 9 2014, 20:18

I have lived in primary residence for just over 2 years and rented it for another 2 years. When I started to rent out, I moved my property to LLC using general warranty deed, and now I'm planning to sell my home as I have lived in house for 2 years of last 5 years. If I sell the home via LLC, will I qualify for the capital gain tax exclusion as lived in it for two years before transferring it to LLC. Do you have to transfer it back to my name?

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