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Updated over 2 years ago,
1031 exchange-can you please help?
Hi guys,
I wanted to ask you if you have had any experience like that:
I have sold a property that was in an LLC. (one member LLC, I was filing the rental income from that rental on my personal taxes/managing it myself, etc)
Now I am buying another property and the loan is in my personal name.
Is it an issue for the IRS?
Since I am doing a 1031 exchange and sold the house in the LLC name but buying in my name?
Dont want to pay 30% tax...
Can you guys help?