2 partner LLC with transfer of property and sale.

[Joe Na]

Jan 1st of this year I combined rental properties with a partner. He transferred two properties into my LLC in exchange for equity ownership. The LLC prior to this event was a single member LLC. One of the properties I contributed to the LLC has been place under contract to be sold. The partner and I both agree that I should be solely responsible for the capital gains tax associated with the sale of the property. We do not want to do a 1031 in the LLC. Is there any tax issues on the LLC side if I transfer the property back as an equity withdrawal to my name from the LLC then proceed with the sale?