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Real Estate Tax Game

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Transfer Rental Property To LLC
We were advised to transfer title of our STR into an LLC for asset protection purposes. How do we ensure there won't be any undesirable tax consequences for doing that? It's in Idaho, same owners in personal names are the same owners of the LLC. The googler is giving mixed answers whether or not there could be transfer taxes or capital gains taxes triggered by the transfer.
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New comment 29d ago
0 likes • 29d
We asked the bank for permission and they had no problems with it since we're the same owners of the LLC. Thank you for the quick response.
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Allena Lewis
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@allena-lewis-8316
Mom, pilot, USAF Vet, RE investor (STR), 2 kids, 2 cats, 1 dog, 1 wife.

Active 29d ago
Joined Oct 7, 2024
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