Property transfer from 1LLC to another-Taxable event? We have a real estate company. Currently we have a property in our flipping LLC but now want to keep it as a rental. We want to put it in an empty LLC that we own. We have not made a profit on this property yet. My husband is concerned it will trigger a taxable event if we transfer. Will it? We are in Louisiana, not sure if that matters. My CPA is on vacation for another 10 days so I'm trying to resolve this sooner. Thank you for any guidance. |