Hello,

My partner and I currently run 2 separate LLC's. We have a home under one of the LLC's that was previously used for employee housing, but we're converting it to a residential rental. In order to separate the accounting and more importantly limit any liability we'd like to transfer it to the other unused LLC. What type of tax implications could this raise, being as the property is nearly fully depreciated? Is there any method to potentially minimize the taxes, if applicable? Thanks in advance.