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Updated 6 months ago on . Most recent reply

User Stats

6
Posts
1
Votes
John Gavin
  • Investor
  • Vienna, VA
1
Votes |
6
Posts

2 owner LLC - breaking it into 2 distinct LLC’s

John Gavin
  • Investor
  • Vienna, VA
Posted

A friend and I have an LLC that owns multiple properties and for several reasons we would like to split the LLC into 2 LLC's and each own one. We would like to split the homes and both have separate LLC's moving forward. What is the best way to do this without incurring taxes?

Most Popular Reply

User Stats

6
Posts
1
Votes
John Gavin
  • Investor
  • Vienna, VA
1
Votes |
6
Posts
John Gavin
  • Investor
  • Vienna, VA
Replied

@Account Closed thank you! So we can take the original LLC that is 50/50 owned by 2 people and move half of the properties over to a new LLC where one partner now owns 100% and then the other partner would have the other half of the properties and have 100% ownership of that one and we pay no taxes? Thanks for all you help.

I do realize that the mortgage company may require additional info or not allow this. 

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