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Updated over 6 years ago,

Rich Hupper's profile image
Rich Hupper's profile image
Rich Hupper
  • Broker / Investor
  • from Tewksbury, MA
  • Member since Aug 27, 2008
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1,254
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342
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Rich Hupper's profile image
Rich Hupper's profile image
Rich Hupper
  • Broker / Investor
  • from Tewksbury, MA
  • Member since Aug 27, 2008
Connect
Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
342
Votes |
1,254
Posts
Buying & Selling Real Estate

What are the tax and legal implications of this....

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

I have a client who bought a property with cash at fair market value but now wants to give it to his family's LLC for 1 dollar. My client is not a member of this LLC. Can someone tell me the the tax implications of this transfer for my client and the LLC? What does he have to look out for?

Thanks

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