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Updated about 7 years ago on .

User Stats

2
Posts
0
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Amir S.
  • Los Angeles, CA
0
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2
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C-corp gifting to LLC, short term capital gains

Amir S.
  • Los Angeles, CA
Posted

I have a question and would appreciate anyone with knowledge to answer.

A non-resident Alien who owns a C-corp (real estate), sole proprietary, and has title to a house, under the C-corp, is planning to gift it to a resident, child of C-corp owner, who owns a multi-member LLC (real estate). The C-corp has had the house for 1 year and has significant expenses. The multi-member LLC plans to sell the house in 4 months if acquired. Can the LLC in any way avoid paying the short term capital gains if the C-Corp initially purchased the property for investment?