Tax Implications of Selling Property from one LLC to another

[Mike Mefferd]

I am looking for tax advice if I sell a property from one of my LLC's to another LLC that I own. WIth this sale, it would show $150k loss and I wanted to know if this loss could be deducted on my taxes. Looking for any advice on if this is even legal.

Thanks in advance,

Mike

[Basit Siddiqi]

@Mike Mefferd

Hi Mike - How much Profit/Loss/Capital do you own in each of the LLC's?
if the answer is 100% - Then; you may not be able to take the losses on your return.