Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago,

User Stats

29
Posts
0
Votes
Jacob Patterson
  • Real Estate Investor
  • Woodstock, GA
0
Votes |
29
Posts

Moving into my own investment

Jacob Patterson
  • Real Estate Investor
  • Woodstock, GA
Posted

I purchased a house in my business, LLC with the intention of flipping the house. However, after consideration, I plan to move into the house myself. For tax purposes, I pay income as well as self employment tax on my gains from the sales of my properties. I have also been recorded my business expenses on this house, throughout the project. How do I transfer, ethically and lawfully, the property to my name? I know I can quit claim it, but should I do a sale of the property for the amount I spent, including original purchase price and expenses? Thus making the gain zero? What is the proper way to do this? Let me know if you need more information. Thanks!