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Updated over 3 years ago on .
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Transfering ownership into LLC although a 1031
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
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@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.