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Investors & landlords
@RobertB4444 your solution is not correct.
Contribution of property into an LLC taxed as a partnership is a step into the shoes transaction.
As such, lives, methods, holding period all carries over to the LLC.
The depreciation does not start over.
*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.
Also keep in mind the date of replies, as tax law changes.
ā€ˇFebruary 17, 2024
10:10 AM