Usually a 401k liquidation will push a taxpayer into higher tax brackets. 

Since then I have made all of the tax payments and completely renovated the home both up and downstairs, driveway (not seen in pictures) along with the backyard.

Call the taxpayer/borrower up, and (specific to S corps) a very VERY common lamentation is "well I leave it all in my business, but it's still my money."

So, if your income is $40k and your total gain on the sale is $150k, your income is $190k and you will be paying 15% federal tax on the portion of the gain that is considered long-term capital gain.California does not have lower tax rates for long-term capital gains - you will be taxed at your ordinary state tax rate at the state level.You normally pay tax upon filing but if the sale generates a requirement for you to make estimated tax payments, you should do that.

However, you may be able to do what you're thinking depending on the nature of the LLC.You can change the deed on a property but you cannot change the taxpayer. 

I promptly thanked you for that valuable correction and merely pointed out that the expense reporting requirement you cited is limited to instances where the tax payer is seeking the "Earned Income Credit".   

Hi @Steve Morris, The requirement under the Treasury Regulations for 1031 Exchange transactions is that all of the parties be notified that the taxpayer is completing a 1031 Exchange. 

This means that your 1031 Exchange would be set-up under your individual name as the taxpayer/exchangor with language like "who will relinquish title as LLC 1." 

So, while sitting at home raising 4 kids instead of working (don’t worry, job kept paying me thanks to all tax payers by way of the Federal Government) I started listing to audio books while driving for DoorDash.

We are renting out parts of our new house (including the ADU) to other friends for a total of $3,450 per month with a total mortgage, interest and tax payment coming in at roughly $3,003 per month.