SBZ
Level 1
03-20-2023
11:32 AM
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Client converted a personal residence to a rental & put it in a LLC that they but chose to be taxed as a partneship with IRS. The married couple are the only members. They have filed one ptr return. They thought the house would still qualify for the capital gain exclusion but I don't think so since it is owned by the partnership. Any ideas on a way this ownership would qualify for the gain exclusion? Thanks for your thoughts!!
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