1031 from one property to another property that I already own.

[Casey Walker]

Hello,
I have  a1031 question.
If I sell one of my properties, can I 1031 into another property that I already own in my personal name if I change the ownership to an LLC?

I think if I change a property that I own in my personal name to be owned by an LLC that I own I would have to pay the 2% transfer tax. So it looks like they view that as me selling it from me to the LLC. If I did this would I have to pay capital gains tax on this property?

At the same time could I sell the first property and 1031 into this property I am putting under an LLC?

I apologize that this is confusing.
Thanks Casey

[Bill B.]

Nope. Not if it's a disregarded LLC like 99% are. Same tax payer means it's not a sale.

Ps. If it wasn't a disregarded LLC that LLC would owe all the capital gains tax from their sale anyway. Talk to an expert like @Dave Foster to find out if there’s a work around but doing it and then having it cancelled by the IRS a year or two later would be less than ideal.