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Updated almost 3 years ago,

Gurpy Ont's profile image
Gurpy Ont's profile image
Gurpy Ont
  • Investor
  • from Brampton, ON
  • Member since May 20, 2017
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User Stats

15
Posts
2
Votes
Gurpy Ont's profile image
Gurpy Ont's profile image
Gurpy Ont
  • Investor
  • from Brampton, ON
  • Member since May 20, 2017
Connect
Gurpy Ont
  • Investor
  • Brampton, ON
2
Votes |
15
Posts
Tax, SDIRAs & Cost Segregation

Hold a LLC in a Limited Partnership

Gurpy Ont
  • Investor
  • Brampton, ON
Posted

We (Canadian and US partner) are buying rental property in US. We formed an LLC, but it will result in double taxes, since LLC, LLP, LLLP are not considered partnership in Canada.

Is it ok to transfer the ownership of this LLC to a Limited/General partnership. Are there any issues to be aware of, besides additional paperwork.

Final structure would look like: Partners --> LP --> LLC --> property.

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