Ria Lamb
Putting a 1031 exchange property into an LLC (3 years later)
Three years ago, my husband and I did a 1031 tax exchange for a rental property. The property is still a rental property and will continue to be, at least for the forseeable future, but I would like to put the propert...
Patrick Sittenauer
Is a 506 Fund the right setup?
A few friends and I were discussing how to “crowdfund” a real estate buy and hold company. The basic premise is our friends and family would invest x dollar amount for x # of years. I saw “crowdfund” because we are lo...
Jennifer Bayhi Gennaro
1031 and a bank account
Stay with me here.... My husband and I own a piece of real estate that we are selling. We are exchanging into a trailer park, where we will have a 50/50 partner. In order to do the exchange, we cannot form a new LLC w...
Michael Klinger
Fed ID Question LLC related
I wasn't sure which forum I might get an answer on, but since this relates to Commercial/Apartments. As its tax season, so hard to get the attention of an accountant on this one right this second. So here goes:For "go...
Jayme Walker
Turning personal property into business' property for spec home
My husband and I have an LLC - we build spec homes.
We personally own our own home on 2 acres. There is a split available, we have done a survey, and we are about to apply for the partial release with our mortgage co...
Joshuam R.
FL SMLLC > EIN > AS INDIVIDUAL OR CORPORATION
Hello all, will be continued full time W2 employee but also starting new LLC single member. Next hour or so will register EIN with IRS, best selection I have found during discovery is to establish it as either 8832 or...
Josh D.
LLC 1065 quick tax question
As a husband and wife with a partnership llc disregarded entity we are co owners and have 5 rentals that were acquired last year (2019). Do I need to file 1065 and issue each of us a K1 since we’re married? If so why,...
Jules Alicious
Can I 1031 from a condo to a partial owner/investor of an RV Park or Mobile home park
Im selling some condos under an LLC (I am the sole owner of the LLC) and would like to 1031 that gain into RV park and mobile home park partial ownership investments as an individual. Are those investments like - kin...
Darlene S.
Selling Property with remaining mortgage that is in an LLC.
Can someone sell a rental property quit claimed to an LLC, while mortgage is in personal name. Would it be necessary to transfer back to personal name. Does it complicate matters when planning to do a 1031 exchange?
Nagesh Kakarlamudi
1031 exchange with LLCs involved
We are in the process of selling 5 SF properties in VA and acquiring 1 MF in FL. The VA properties are held in two separate LLCs, 3 in one and 2 in the other. The purchase price of the MF in Florida is much higher tha...