@Opus 17 wrote:
I would definitely want professional advice from someone who was not the person who proposed the deal.
I agree, but the primary question posed by @MaverickAl was whether this transaction would qualify for the Section 121 exclusion (apparently, having converted the house to rental use in August of 2021, time is running out on the 2-out-of 5-year time period).
Regardless, the answer is in the negative as the sale would be the sale of a ~49% interest in an LLC.
