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Updated about 4 years ago,
Can you 1031 a property from an existing LLC to a new one?
Currently have a Wisconsin LLC with 3 MF properties, we are currently selling 1 (but likely all 3) with plans to move the funds to invest in the South. Our CPA advised that it would be best to create a 2nd/new LLC in the state where we will invest next. Trying to do a 1031 exchange to avoid the tax gain as we likely want to do a buy/hold. Any thoughts if this is possible - sell from one LLC and 1031 funds to the new LLC? The LLC agreement for both old & new are the same two equal partners.
Thanks!