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Transferring a rental property from one LLC to another LLC
So I have a rental property that transferred from one of my LLC in 2020 to a new one in 2020. The amount the property was sold to the new one was "$500". When I enter that for the first LLC is shows up as a huge loss (It was a $70,000 property), but when I put that in the new LLC it shows up as a $400 house and $100 land! Is that right?
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March 4, 2021
8:34 PM