@savvyscot wrote:Should the quit claim deed be for $10 since there was never a company and the "company's" basis is my basis as it would have been a pass-through entity anyway?
Your LLC, being a single-member LLC, is really not much more than your alter ego, and is disregarded for federal income tax purposes. As a result, the transfer will not have an impact in that respect.
However, you should check with your state, county, and local authorities (particularly the county) since some of them are known to be fussy about quitclaim deeds and will charge transfer (stamp) tax for transfers that should be tax-free. As a result, you will want to show nominal consideration.
