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Updated almost 11 years ago,

User Stats

12
Posts
4
Votes
Raj Kumar
  • Investor
  • Charlotte, NC
4
Votes |
12
Posts

Capital gain tax exclusion after property transfer to LLC

Raj Kumar
  • Investor
  • Charlotte, NC
Posted

I have lived in primary residence for just over 2 years and rented it for another 2 years. When I started to rent out, I moved my property to LLC using general warranty deed, and now I'm planning to sell my home as I have lived in house for 2 years of last 5 years. If I sell the home via LLC, will I qualify for the capital gain tax exclusion as lived in it for two years before transferring it to LLC. Do you have to transfer it back to my name?

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