LLC Owned Property - Posted by Kevin

Posted by Rich-CA on August 20, 2007 at 18:24:28:

Are you the sole member of the LLC? if so, you can just quit claim it back to you personally before selling.

However, unless you elected to have the LLC taxed like a corp, the income flows through to your personal tax returns. It is not taxed twice like with a corp.

LLC Owned Property - Posted by Kevin

Posted by Kevin on August 20, 2007 at 18:03:20:

Selling my properties. My residence is owned by my LLC. Will I be taxed at a greater rate on sale. If so can I sell it back to myself?