Settlement proceeds in personal name, expenses in LLC name
My wife and I are partners in an LLC that just sold a flip. The expenses were paid from the LLC account for the 14 months I worked on the house. The house was in my name, not the LLC, so the settlement proceeds had to go to me and a personal checking account. Do the proceeds need to be deposited into the LLC account before paying off debts, or does it matter for tax purposes? Was this a rookie mistake? Should the house have been quit claim deeded to the LLC before the sale?