In the case of landlords, it could be that their property was involved in a drug bust; that they've been dealing with the tenant from hell; that they're being sued; etc.

When real estate is held by an LLC of a husband and wife in a community property state, and then sold at a profit after being held for at least one year, does the LLC qualify for Capital Gains Treatment of the gain?

I have a sneeking suspicion see might be on drugs. she looks like she's in her 40's but is toothless like an old lady and her mouth has that dry burnt out look to it.

Decide if the S comes with some liability from the past before putting assets into it.Both the S and the LLC have pass through tax treatment.

You have to hold them for one year to get capital gains treatment on them.

The place is frequented by drug addicts and homeless vagrants who are taken advantage of by the tenants in exchange for allowing them to stay overnight.

I just had a deal get rejected because the agent who did the BPO was on drugs or something and gave the bank a value way too high.

An LLC treated as an S-corp for tax purposes will enjoy the same tax treatment as the S-corp.

I knew it was a low income area I would be in but....darn these people have every social ill imaginable: drugs, alcohol problems, no jobs, single parents with 3-4 kids, etc.

:protest: :protest: :protest: :protest: :protest: :protest: :protest: Mike (Citizens for the Equal Treatment of Landlords, Victims Advocacy Group)