Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply presented by

User Stats

8
Posts
7
Votes
Mike Feehley
  • Real Estate Broker
  • Charlotte NC
7
Votes |
8
Posts

Transfering ownership into LLC although a 1031

Mike Feehley
  • Real Estate Broker
  • Charlotte NC
Posted

I own a STR, no note attached, which I bought through a 1031. I would like to move the deed into an LLC, what implications does that have in regards to the 1031? Honestly, if this is not allowed, would anyone ever find out? Thank you in advance for any advice

Most Popular Reply

User Stats

5,271
Posts
2,325
Votes
Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
2,325
Votes |
5,271
Posts
Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
Replied

@Mike Feehley Typically it is a non issue if the underlying taxpayer is exactly the same. If it is owned in your name now and it will be put into a SMLLC owned 100% by you it should be a non-issue. 
@Dave Foster covered it perfectly. 

  • Steven Hamilton II
  • [email protected]
  • (224) 381-2660
  • Loading replies...