LLC To LLC Title Transfer....Taxable Event?
I am looking to transfer title on one of my rentals to my second LLC which is a partnership with another investor. Currently, the property is titled to an LLC partnership that includes only my wife and myself. The mortgagor is my father so their will be no due on sale clause issue with the bank. If I do transfer title, is that the end of it or is this action equivalent to a sale and all of the capital gains depreciation recapture that goes along with it?
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