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Updated about 6 years ago on . presented by

Helen Lee's profile image
Helen Lee's profile image
Helen Lee
  • from Chicago, Illinois
  • Member since Feb 9, 2015
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Helen Lee's profile image
Helen Lee's profile image
Helen Lee
  • from Chicago, Illinois
  • Member since Feb 9, 2015
Connect
Helen Lee
  • Chicago, IL
0
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19
Posts
Tax, SDIRAs & Cost Segregation

transfer property from trust to llc

Helen Lee
  • Chicago, IL
Posted

I want to transer my property which is owned by my personal trust to a LLC I just set up. The property is in Michigan. It's currently in state forest program for tax deduction. Now I wish to transfer it to a LLC. Here is the question:

1. Will I lose the tax deduction from forest program?

2. Currently the LLC is under my name. Can I change the owner of the LLC to my trust?

3. Can I do the transfer with a quit cliam deed in Michigan?

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