How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask R. Klein, EA Your Own Question
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
63817126
Type Your Capital Gains and Losses Question Here...
R. Klein, EA is online now
A new question is answered every 9 seconds

I would like to sale my personal residence to a LLC of which

Customer Question

I would like to sale my personal residence to a LLC of which I am a member. Can I exclude any of the gain?
Submitted: 7 months ago.
Category: Capital Gains and Losses
Expert:  Stephen G. replied 7 months ago.
Jon:You should complete the previous question before starting another one on the same topic.How much of an interest do you have 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?

Related Capital Gains and Losses Questions