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Updated about 4 years ago on . Most recent reply

User Stats

83
Posts
17
Votes
Soumya Brijesh
  • Investor
  • South Padre Island
17
Votes |
83
Posts

1031 exchange transfer from an existing LLC to new LLC

Soumya Brijesh
  • Investor
  • South Padre Island
Posted

Hey Guys, Question :- I have a property in Ohio under a Sole Member LLC that I am selling and doing a 1031 on another property in Texas. Can I setup a similar Sole Member LLC in Texas(with a different name) and buy the new property ?

Most Popular Reply

User Stats

1,092
Posts
752
Votes
Mark H. Porter
  • Investor
  • SC NC, VA
752
Votes |
1,092
Posts
Mark H. Porter
  • Investor
  • SC NC, VA
Replied

I think most of the QI’s on here, including @Dave Foster who I use, will tell you it needs to be traced to a tax filing # such as a TIN or SSN. Does the LLC file taxes separately from yourself?

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