Posted by JHyre in Ohio on January 02, 2002 at 16:19:34:
Assuming that the property was held for investment, as opposed to sale, you get cap gains treatment, except to the extent of any depreciation taken prior to the sale.
John Hyre
long term capital gains - Posted by George
Posted by George on January 02, 2002 at 11:32:19:
If i have a property in my name for 6 months, then put it in an LLC for 8 months, would i still get long term capital gains if it then sold? I would have had it for 14 months, but only 8 months in the LLC.