Account Closed
Disregarded LLC Tax Reporting Issue - How Have You Reported?
Some background before I post - I am a tax guy - started at Ernst & Young in 1993 and have been in the tax business since. My full time day job is to argue with tax auditors.I have a situation that I'm curious ho...
Mohammed Milord
What happens to your LLCs after using a 1013 Exchange for a trade-up??
Let's say you own three rental properties, and each property has its own LLC. What happens to the LLCs if you decide to trade the rental homes for an apartment building using a 1031 Exchange? Are the LLCs not under y...
Matt Said
Can you 1031 a property from an existing LLC to a new one?
Currently have a Wisconsin LLC with 3 MF properties, we are currently selling 1 (but likely all 3) with plans to move the funds to invest in the South. Our CPA advised that it would be best to create a 2nd/new LLC in...
Davit Gharibyan
1031 Exchange new LLC for new property
Hello, Today I closed on the sale of my apartment building. It was held in LLC "A". The funds will be held by 1031 Exchange intermediary.Do I have to buy the new property under same LLC "A" or can I form a new LLC "B"...
Gordon S.
Filing EIN confusion.
Hey everyone, EIN filing time for my single member LLC. My attorney was so kind to include some documentation about filing for the EIN...but alas my simple mind cannot figure out this quote for some reason. Or maybe I...
Christopher Brown
Disregarded Entity LLC for 1031 in Non-Community Property State
I'm working toward closing the downstream leg of a 1031 exchange. My wife and I owned the exchanged property in our own names as joint tenants. For mortgage swap eligibility-related reasons (we don't have the net wo...
Rhea Riffle
Need advice: Forming an LLC as disregarded entity in FL
My husband and I are selling a property in CA under both our names and doing a 1031 exchange. We found a property in FL. We want it to be under an LLC but it has to be a “disregarded entity”. I’ve read that since FL...
Abhinav Mittal
Setting up new LLC - Wyoming or CA- Regular or Disregarded
Hi All,I am just getting started and setting up the LLC. I just came from a seminar and got the advise to set up a LLC in Wyoming because fee is less as well as it provides better protection. They also recommended to ...
Account Closed
1031 Membership Interest Sale?
We own a duplex in a disregarded llc and want to sell the membership interest of the llc to our buyer to avoid transfer taxes. We wanted to do a 1031 but they said it may not work because the llc's member is a partner...
Andy A.
1031 exchange, new LLC, am I a disregarded entity, community prop
Looking for some advice from Tax experts, like @Steven Hamilton II.Sold an investment property in California. Opened a 1031 exchange. In escrow to purchase a replacement property (8-unit) in Nevada. Recently opened a ...