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Updated almost 7 years ago,
1031 title question, tax consequences?
Have a property in NY with substantial cap gains that I am looking to 1031 and it is in my name. I would like to change title to LLC instead of my name and was interested in knowing the consequences of doing this before or after a 1031?
Prior to a 1031, does transfer of title to LLC trigger a tax liability or is it disregarded since it''s a single member LLC?