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Updated 10 months ago,

David G West's profile image
David G West's profile image
David G West
  • New to Real Estate
  • from Seal Beach, CA
  • Member since Mar 29, 2021
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User Stats

7
Posts
1
Votes
David G West's profile image
David G West's profile image
David G West
  • New to Real Estate
  • from Seal Beach, CA
  • Member since Mar 29, 2021
Connect
David G West
  • New to Real Estate
  • Seal Beach, CA
1
Votes |
7
Posts
Tax, SDIRAs & Cost Segregation

Cap Gains on Re-entering ownership

David G West
  • New to Real Estate
  • Seal Beach, CA
Posted

Hi,

We bought a property last year thru an LLC and the previous owner was there for 2 years so he sold it with no capital gains.
For various reasons, we are partnering with the previous owner again and adding him as a partial-owner of the LLC and therefore the property. 
How would that affect his tax situation if at all?

San Diego, California
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