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Updated about 2 years ago on . Most recent reply

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Matthew Frazier
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Holding property in LLC but issued tax forms in personal name?

Matthew Frazier
Posted
I have heard many people talk about moving assets to an LLC after getting financing; although this could trigger a due on sales provision, it sounds like it rarely does.  It sounds like people don't tell the lender about this change.  Question:  Is it an issue if the lender is filing year end tax statements (like interest paid, etc) against your personal social security number but you are filing the tax return for an LLC?  In case of a single owner, the LLC would likely be a disregarded entity but it still seems like you would end up with a mismatch compared to the IRS records.

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