No taxes payed on LLC/ Land Trust property sells? - Posted by Bob

Real Estate Investing Real Estate Law
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Posted by BTI on May 22, 2006 at 12:39:52:

Bob

Do you mean if you sell a property, can you use a sec 121 exemption? Yes, if the owmer of the enity matches the occupant/seller of the property. This happens in living trusts all the time, and I know of no cases where it was disallowed, but always consult with your tax advisor.

BTI

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No taxes payed on LLC/ Land Trust property sells? - Posted by Bob

Posted by Bob on May 22, 2006 at 02:55:44:

If you buy a owner/occupied property can you use the two year tax exception if you use a land Trust or LLC so you don’t have it in your name?