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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
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I would like to sell my personal residence to an LLC and exclude

Customer Question

I would like to sell my personal residence to an LLC and exclude the gain on sale. Is that possible?
Submitted: 6 months ago.
Category: Capital Gains and Losses
Expert:  Stephen G. replied 6 months ago.
It depends. Do you have any interest in the LLC?Will you have owned the home & lived in it as your primary residence for at least 2 out of the previous 5 years ending on the date of sale?Are you married?How much will the capital gain be that you want to exclude?

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