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Updated over 5 years ago,

Brendan Scully's profile image
Brendan Scully's profile image
Brendan Scully
  • Member since Jul 2, 2019
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Brendan Scully's profile image
Brendan Scully's profile image
Brendan Scully
  • Member since Jul 2, 2019
Connect
Brendan Scully
2
Votes |
3
Posts
Tax, SDIRAs & Cost Segregation

Selling to LLC for Capital Gains Exception

Brendan Scully
Posted

I have a rental that I lived in for two years. It has been a rental the last two years and I plan to sell it soon in order to take the capital gains tax exempt. However, I would like to keep it if possible. I have formed an LLC for future real estate investment. Can I "sell" it to my LLC at current market value with a quit claim deed and take the capital gains tax exempt?

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