Hey CPA person, can I sell my duplex to my LLC?

[Anthony Wick]

I own a duplex in my name only. I also own other properties in my LLC, which is comprised of two other unrelated partners.

Can I quit claim deed my duplex over to my LLC, and have my partners pay me directly for 2/3 value, without incurring any capital gains tax?

Of note: my own CPA has this question and has not gotten back to me yet, and I haven’t tackled the “due on sale clause” issue yet either.

[Christopher Smith]

There are some complex rules that can apply to contributions of built in gain properties to partnerships, 704(c), disguised sales, etc. Might make sure before you pull any triggers that you don't trip up over any of those.