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46 votes

Can I sell my jointly-held personal home to my single member LLC?

Yes, you can. Is it a good idea is a better question. You should talk to your tax preparer about it. In the US, if you live 2 out of the last 5 years in a house, 250000 of profit is not taxable. Also, you lose homestead protections. When you do sell the house, you put back all that depreciation. So, since there are many moving parts, it is best to talk to your tax preparer.

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