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Updated 4 months ago, 08/22/2024

User Stats

525
Posts
745
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Ron Brady
  • Rental Property Investor
  • Burlington County, NJ
745
Votes |
525
Posts

Capital gains tax on LLC-owned inherited properties?

Ron Brady
  • Rental Property Investor
  • Burlington County, NJ
Posted

My wife and I understand that we could give our home to an adult child when we pass away and that our adult child would pay no capital gains taxes on it.

But, we have multiple rental properties owned by our LLC and we want to give each our 7 children a property when we pass away. Since the properties are in our LLC, would the same capital gains tax rules apply or no? We're about to work with our estate planning attorney on this, but can someone with knowledge of the tax side of this issue weigh in please?

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