Transfer SF Rental from one LLC to another LLC- Procedure
Hi,
I have a property rental in one LLC and taxes are under those LLC. I need to tranfer that property to another LLC name and going forward it will file taxes under that name.
How does the transfer work? What happens to the depreciation, cost basis on the tax returns etc. FYI property is 3 year old
Most Popular Reply
I'm assuming you're only asking about LLC transfer for tax purposes. But if you're also asking for a title transfer it would be through the real property records. If it's for title transfer, you'll need to transfer the warranty deed, whether its' general, special or quit claim deed. You also should clear title by paying off any liens.