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Updated about 4 years ago,

Gillian C.'s profile image
Gillian C.'s profile image
Gillian C.
  • from Chicago
  • Member since Mar 19, 2019
Connect

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27
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13
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Gillian C.'s profile image
Gillian C.'s profile image
Gillian C.
  • from Chicago
  • Member since Mar 19, 2019
Connect
Gillian C.
  • Chicago
13
Votes |
27
Posts
Tax, SDIRAs & Cost Segregation

How do I take a property out of an LLC?

Gillian C.
  • Chicago
Posted

Hi everyone:

We have a property that we put in an LLC when we purchased in 2018. In 2020 we refinanced the property as a non-LLC, "taking it out of the LLC" because we didn't want to try and get a commercial loan. I'm now trying to figure out how we actually officially do this - most specifically what steps we have to take so that the government doesn't flag us for filing taxes for an LLC in 2019 and then no LLC filling in 2020. Thank you!

Gillian

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