Announcement

Collapse
No announcement yet.

commercial real estate sale to another LLC

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • dennis
    replied
    I'm not a CPA but I would say no. It's just a shell game with the same ownership in both LLCs

    Leave a comment:


  • Tim
    replied
    You are crossing into related party territory. The likely outcome is a negative. Spend some bucks and get a “no” that is acceptable.
    https://www.firstexchange.com/articl...arty-exchanges


    Leave a comment:


  • StarTrekDoc
    replied
    Who knows. Trump organization CFO may have an opinion on it too.

    Seriously - engage a reputable real estate lawyer/accountant on this.

    Leave a comment:


  • JacobC
    replied
    So the idea is to basically do a refinance while also resetting the cost-seg? No idea. Seems unlikely. It also seems unlikely that it would actually be cost-effective. Definitely ask a CPA that specializes in RE and 1031s, not a bunch of bumbling people on an internet forum. Give us an update, though!

    Leave a comment:


  • DollaBill$
    started a topic commercial real estate sale to another LLC

    commercial real estate sale to another LLC

    Can I "sell" a commercial property I own in LLC #1 to another corp I own LLC#2 (both owned 50% with spouse) ? I would do a 1031 exchange for LLC1 with a cash out refinance and use the proceeds for a down payment on a new property, then LLC#2 would now own the original commercial property and have its own cost segregated depreciation schedule of the original property but owned by llc #2?
Working...
X