1031 Ownership Change

[Carl Millsap]

We bought a property in 2019 using a 1031, now we want to refinance that property but as part of the re-fi we want to move it into an LLC.

Will the change in title (ownership) trigger a tax bill because we used 1031 funds to buy the property? 

We are trying to determine if we refi into the LLC or keep it in our name.

Thanks 

[Jesse Daconta]

This sounds like a question for @Dave Foster

Take it away Dave!

Best,