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Updated over 4 years ago,
Bought a house in personal Name, want to sell from LLC...no?yes?
Hey guys, so some background.
I bought a tax foreclosure property under my personal name. I now have a buyer for it, but want to do a quitclaim deed and transfer it into a LLC before selling it next month.
Is this a good route? Normally its sold under personal name, but I will have more than 1 property closing and don't want to jump tax brackets and pay more taxes, so I am considering creating an LLC and transferring the property into that and then selling it.
Any downsides/negatives to this route?
Any positives to this route?
Please let me know guys!.
Thanks!