New Tax Code affects transfer into LLC

[Jordan Moorhead]

I had question today about moving a property into an LLC that was purchased with an owner occupied mortgage. The guy I was talking to said that he had heard the new tax code penalized you for transferring a property into an LLC that was bought using an owner occupied loan. I hadn’t hear anything about this and in my experience you just have to deal with the bank when transferring. Anyone know of any tax issues when transferring into an LLC with new tax code.