Tax basis with quit claim from one llc to another

[Andrew Cooper]

I wanted to transfer ownership of one property from (multi member llc) to another llc(sole llc -me owner). via quitcLaim Would that ruin the tax basis or make me pay more in taxes? Or other consequences im not aware of ? Like I wont be able to deduct expenses I paid out of my pocket for taxes, extra rehab cost, mo interest payments ? It’s already at loss but I don’t want to lose out on capital loss deductions I can make yearly Originally i intended to refinance, but property not complete yet. Lender is okay with it since I’m on the contract. And reason I cant wait to finish is bc of bad partnership. He is cooperating and willing to sign off the deed.

[Richard Sherman]

@Andrew Cooper it is worth talking to  CPA on this one.