Solved: If my client transfered a personal rental property to ther LLc. Can I report this disposition in 1040 as -1 for sales price? Does that mean loss?

yeriromi · ‎03-10-2020

IRonMaN · ‎03-10-2020

No

Slava Ukraini!

View solution in original post

IRonMaN · ‎03-10-2020

No

Slava Ukraini!

George4Tacks · ‎03-10-2020

If they are a SMLLC, then you don't do a thing. It still is a rental shown on Schedule E, but additionally they get to possibly file a state LLC form and pay everyone more money.

Here's wishing you many Happy Returns

yeriromi · ‎03-11-2020

Thanks

IRonMaN · ‎03-11-2020

👍🏻

Slava Ukraini!

yeriromi · ‎03-11-2020

thanks

If my client transfered a personal rental property to ther LLc. Can I report this disposition in 1040 as -1 for sales price? Does that mean loss?

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