Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on .

User Stats

4
Posts
0
Votes
Matt N.
  • Pensacola, FL
0
Votes |
4
Posts

Holding period when transfering from personal name to LLC

Matt N.
  • Pensacola, FL
Posted

My partner and I purchased a property through tax deed sale in our personal names, March of 2018. We have been doing a quiet title for the past year and did not want to put in the LLC name until the court ruled in our favor. The quiet title is now complete. We are planning on building a spec home to resell. We were planning on putting the parcel into our double member LLC. If we quit claim this parcel in to our business LLC now and sell within less than one year from that transfer date, will the gain be considered long term or short term? Basically same owners as the LLC members, no additional members. Does the holding period reset?