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Updated about 4 years ago on . Most recent reply

User Stats

34
Posts
16
Votes
Tobias Joneses
16
Votes |
34
Posts

moving rental property into trust

Tobias Joneses
Posted

Please do not post "you should seek a tax professional"  I will do this but wanted to know if anyone here knew anything besides "You should seek a tax professional"  

Now that we got that out of the way, I want to know if the property is in my name can I move this into a trust without triggering a sale or depreciation recapture?  From my understanding, I'd have to first have to move the property into the trusts name as an owner using a quit claim deed. (https://homeguides.sfgate.com/...)  Unfortunately at this point the government would see this as a sale and it would trigger depreciation recapture.  Is this true?  Or does anyone know of a way around this?   Selling at a loss is not an option. I am trying to avoid probate. 

Thank you in advance for all your useful answers!

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