Disregarded Entity and 1031 Exchange

Posted by Andy Gustafson on Mon, Jul 22, 2013

Often times, a taxpayer will choose to hold his/her investment property in the name of a disregarded entity or single member limited liability company (SMLLC), which allows the owner to be taxed on their personal tax return. The intent is that the owner's personal liability is protected because the title of the property is held in the name of the SMLLC. Determining the merits of owning property in a SMLLC should be discussed with your tax and legal advisor.

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Disregarded Entities and 1031 Exchange

Posted by Andy Gustafson on Tue, Apr 09, 2013

Section 1.1031 of the Internal Revenue Code provides for the deferral of capital gain taxes. This is granted in exchange of like property that is being held as an investment or for productive use in a trade or business. There are many rules that must be stricly followed including one known as the same taxpayer requirement. The taxpayer or exchangor can be an individual, husband and wife, trust, partnership, corporation, multi or single member limited liability company (SMLLC). The exception is known as a disregarded entity.

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