Updated over 5 years ago on . Most recent reply
2 properties with different equity splits in 2 llc
Just went through a nightmare where we had 3 properties and 3 partnership agreements to file our taxes on because they were in separate entities.
We wanted to consolidate them in 1 LLC for simplicity - the problem is each property has a different equity split
- Property A: 4 Partners
- Property B: 3 Partners
Would this be an issue for tax purposes?
(Disclaimer: I'm OKAY with the liability of 2 properties in 1 entity. I'm more wondering if this is possible from a tax standpoint to divide up ownership of multiple properties within a single entity)