The property was in a joint Trust account (husband/wife) and is the owner of the commercial rental property (deed/property tax/ etc).  The LLC is filing as a partnership owned by the husband and wife and depreciated under the LLC return.  Maybe I am overthinking this, but the settlement statements and 1031 exchange documents all report the Trust (husband/wife) as the owner of the property, and as the owners of the new property. The LLC was created to be merely a "property manager" instead of owner of the property.