.: Hello,Will there be transfer tax in memphis if there is a quit claim deed done on a property owned by an individual to an LLC managed by the individual?

Why would you want to file a partnership return instead of reporting it as is where it is owned as tenants in common.If you file a partnership return and have someone else do it, you are likely looking at a $700 annual cost.Reporting it as tenants in common means you report your share of the rental on your individual return and your partner reports his share on his individual return.

I am just starting out here in South Carolina looking to network meet a community of like-minded individuals.  

Your daughter will acquire the property in her individual name, using funds from you for the down payment.

However, due to the dissolution of our business relationship, the property title remained in our individual names.

We’ve bought, sold and created a handful of notes but they’ve always been to individuals.  

We also like connecting with like-minded individuals.   

Consult someone who actually knows what they are talking about/does this for a living, but most of your tax savings are only going to offset the earnings of the partnership rather than one of you individually.

There has been research done on the topic and it’s just a common theme found from analyzing financial habits of wealthy individuals.   

The exit strategy is to sell each townhome individually, since each will have it's own legal description.