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Updated over 3 years ago,

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2
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Margo Roberts
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2
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LLC to personal names

Margo Roberts
Posted

A partner and myself have property in an LLC. We want to sell one house in the LLC, but don't know if it is best to quitclaim the property in to our personal names before selling or sell the house then divide the proceeds in to our personal names after quitclaiming it into each name. Is one more tax advantageous than the other? The house is in Meridian, Idaho and my partner lives in Boise. I live in California. We prefer not keeping it in an LLC, even if it is in our own personal LLCs.

Thanks for your thoughts,

Margo Roberts

Investor

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