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Updated almost 6 years ago,
Rental Property to LLC
Hello
My husband and I transferred a rental property that we have owned for 10 years into an LLC, transfer occured on Jan 1st, how does the transfer show in my personal taxes. We want to file a 1065 for the LLC, know that our cost basis will transfer into the LLC as well as our depreciation?
But, where will it show in my personal income taxes that the property was transferred and that it simply did not dissapeared.
Thank you