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Updated over 4 years ago on . Most recent reply

Jerry Thao's profile image
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Jerry Thao
  • from St. Paul, Minnesota
  • Member since Jan 5, 2016
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Jerry Thao's profile image
Jerry Thao's profile image
Jerry Thao
  • from St. Paul, Minnesota
  • Member since Jan 5, 2016
Connect
Jerry Thao
  • St. Paul, MN
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Buying & Selling Real Estate

Tax implications Selling 4plex in LLC

Jerry Thao
  • St. Paul, MN
Posted

Scenario: Purchased 4plex under personal name in 2016 and owner occupied for 2 years. After 2 years, we moved out and Quitclaim Deeded the 4plex into our LLC in 2019. Now we are thinking of selling 4plex this year 2020 or 2021 which is less than 5 year mark.

**Would we be hit with any capital gains or will we be able to claim owner occupy for at least 2 out 5 year time frame to not have to pay any capital gains taxes?**

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