An IRA would pay a small tax on such unrelated debt-financed income.

I buy real estate but I carry debt which is actually tax deductible, my money works for me.

What are the tax implications of transferring the deed?

You really need to talk to a tax advisor in this situation.

Quote from @Alex Brown: Seeking recommendations for a CPA or Tax Strategist who specializes in RE and REPS Status.This post should help:https://www.biggerpockets.com/forums/51/topics/1222774-expla...And none of us is allowed to offer you our services as long as this post is in the tax forum.

Tennessee has 0% tax.

Which accounting software and tax software do most of you small investors use?

When it's sold it will be taxed as capital gains tax and may also have some unrecaptured depreciation which is capped at 25% and  recaptured depreciation as well which can be up to your ordinary income tax rate.

Rental property taxes can be tricky, but you have a few solid options:1.

@Zhenyang JinIf your LLC includes you and your business partner, yes you should file a 1065 partnership tax return.