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Updated over 8 years ago,
LLC vs Personal Accounts
I'm selling a rental property I've had in an LLC for several years. In June, I deeded it back to myself in order to take advantage of a 1031 exchange and be able to use my earned income to qualify for the purchase on the back end of the exchange. In the meantime, I have a rehab invoice that needs to be paid before escrow closes on the 1st. Should I pay the rehab invoice with LLC funds or, since the property is now in my name, use my personal account?