quitclaim my property to a LLC - do I giveup any deductions?

[Matt Duffey]

My wife and I currently own 1 unit in a 3 unit condo building. We are pursuing a second unit in the building and will need to put our current unit in a LLC. We will continue to live in this unit and rent out the unit that we are pursuing.

With that said, I have a few questions...

To be sure that I do not trigger a due on sale or transfer clause, should I have my current mortgage company for written consent to do so?

If I do move my current unit to the LLC, will I give up any of the tax deductions that we currently take as homeowners?