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Updated about 2 years ago on . Most recent reply presented by

Gabriel E. Galloza's profile image
Gabriel E. Galloza's profile image
Gabriel E. Galloza
  • Rental Property Investor
  • from Lehi, UT
  • Member since Jul 8, 2019
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13
Posts
6
Votes
Gabriel E. Galloza's profile image
Gabriel E. Galloza's profile image
Gabriel E. Galloza
  • Rental Property Investor
  • from Lehi, UT
  • Member since Jul 8, 2019
Connect
Gabriel E. Galloza
  • Rental Property Investor
  • Lehi, UT
6
Votes |
13
Posts
Tax, SDIRAs & Cost Segregation

LLC Structuring For An Out Of State Rental Property.

Gabriel E. Galloza
  • Rental Property Investor
  • Lehi, UT
Posted

Hello BP Community,

Hope all is well. I recently moved to Utah, and have a rental property in New Jersey. I purchased the property as a sole proprietor, and would like to transition to an LLC. Since I live in a different state, I don't know what the best strategy is. From my understand, I need to open an LLC in one, and register in the other state. What would be the most ideal way to maximize my tax returns. A penny for your thoughts?

With Kindest Regards,

Gabriel.

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