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Updated 1 day ago on . Most recent reply presented by

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John Anderson
  • Member since Aug 29, 2019
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John Anderson's profile image
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John Anderson
  • Member since Aug 29, 2019
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John Anderson
33
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67
Posts
Tax, SDIRAs & Cost Segregation

Transferring a rental property in my personal name to a two-person LLC

John Anderson
Posted

Hi all,

I hold a rental property free and clear in my personal name. While I have umbrella insurance, it seems silly to hold it in this manner since it is free and clear. I have a separate LLC that I own with a close family member.

If I were to transfer the property to the LLC, would there be any negative tax consequences that I should be aware of?

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