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Investors & landlords
Before you deed your house to an LLC, you should consider the home sale exclusion (Section 121) if you are planning to sell the house in the near future.
You do not want to jeopardize the status such that you do not qualify for the exclusion from gain on a future sale of the property. Only disregarded entities potentially qualify for the exclusion and multi-member LLCs are not disregarded entities.
‎September 16, 2019
2:08 PM