Thanks for that. I just wanted to be clear that I'm not trying to circumnavigate any tax liability. All I am really trying to do is sell the trains and offset the (perceived) gains with my inherited basis (from 2010) which is about the same as the value of the trains today. I read things online that say “An LLC owner, officially referred to as a member, may transfer assets from personal ownership into the LLC”. Some agree with that statement, some don't, some say only if not a singe member LLC. Again I have a well established eBay account in my LLC which I can receive a premium for the trains in (along with a discounted commission from eBay), so I prefer to sell them through that channel. I don't know why the IRS would object to this process (ie.- I sell $10,000 worth of trains to the LLC, I report my sale to the LLC on my personal return (less my cost basis of course), and the LLC sells them for what ever it can get and reports any gains/loss on the $10,000 basis on my Schedule C via Cost Of Goods Sold)
