I am considering setting up an LLC for my businesses, and I would like to transfer business real estate to the LLC. Would I have to pay capital gains taxes to do the transfers? I want to just give the properties to the LLC.

Also, what if I later dissolve the LLC, and want to give the properties back to myself? I might want to do this at retirement age, and sell the properties. Under current laws, would there be capital gains involved with that?

Thanks,

Kathy

I am considering setting up an LLC for my businesses, and I would like to transfer business real estate to the LLC. Would I have to pay capital gains taxes to do the transfers? I want to just give the properties to the LLC.

Also, what if I later dissolve the LLC, and want to give the properties back to myself? I might want to do this at retirement age, and sell the properties. Under current laws, would there be capital gains involved with that?

Thanks,

Kathy
No tax should be applicable. Stock is given for transfer of assets to LLC. No stepped up basis is allowed.

Agreed!