Some follow-up questions:
1) Is the one LLC liquidating or will it continue on?
2) Are we talking one asset or multiple assets?
3) Any of the assets being "transferred" contributed by an existing member?
4) Exactly same member ownership in each LLC?
5) Are the member's maintaining a tax basis schedule?
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
