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Getting the most out of LLC

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04-09-2008, 09:08 PM

lrae20

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Join Date: Apr 2008

Posts: 1

Getting the most out of LLC

I have been part of a general partnership that owns a piece of rental property. I have recently bought out my partner. I plan to transfer the rental real estate into an LLC. My question is whether this transfer will provide a stepped up tax basis on the property.

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