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Updated about 4 years ago,
moving rental property into trust
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!