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Updated about 7 years ago on . Most recent reply

User Stats

65
Posts
9
Votes
Drew Oberholtzer
  • Investor
  • Los Angeles, CA
9
Votes |
65
Posts

Do I need to recapture depreciation during transfer of property

Drew Oberholtzer
  • Investor
  • Los Angeles, CA
Posted

Do I need to recapture depreciation if I am transferring title into an LLC and assuming a new mortgage (commercial loan) under that LLC. I am the sole owner of 3 Single Family Rentals and am transferring the title of each property into an LLC with 4 partners and establishing a new commercial mortgage for all properties under the LLC. As an individual, do I need to recapture depreciation on my taxes based on this transfer?

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