A client had 2 rental properties in an LLC which had 4 members. One of the rental properties was sold at the beginning of 2020. This was a seller financed installment sale. The second rental property was sold at the beginning of Sept 2021. This was also a seller financed installment sale. There are no other assets held by the LLC-just the 2 installment sales. We have created a second LLC and want to move the mortgage of one of the buildings to the newly created LLC. The new LLC is made up of 2 of the 4 members of the original LLC. The two members of the newly created LLC will only be left on the original LLC to help manage things, but will receive none of the income from the mortgage left in the original LLC going forward. How do we go about recording this and will moving the mortgage to the new LLC be a taxable event? The members in the new LLC are husband/wife but do not live in a community property state.