- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
LLC land swap
Posted on 3/23/19 at 6:46 pm
Posted on 3/23/19 at 6:46 pm
Are there any tax events in a land swap from one LLC to another LLC? Different people own each LLC. Pretty much a hand down from one generation to the next but all land owned is in an LLC and they want to hand it down to an LLC the younger generation owns. No money transferred just swapping land
1
Posted on 3/24/19 at 9:55 am to sasquatch69
You say land swap but it sounds like land is only traveling one way (from older generation LLC to younger generation LLC).
The cleanest thing would be to get the subject land in it's own LLC, and then gift ownership of the LLC from the current members to the new members. There could be gift tax consideration depending on the value of the LLC.
If both LLCs own land and you are wanting to just move the parcels around, do a 1031 exchange.
The cleanest thing would be to get the subject land in it's own LLC, and then gift ownership of the LLC from the current members to the new members. There could be gift tax consideration depending on the value of the LLC.
If both LLCs own land and you are wanting to just move the parcels around, do a 1031 exchange.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News