It is a large commercial property owned by an LLC (taxed as a partnership) of which I am a member. It would be impossible to "drop and swap" my share. "Drop and Swap” is a term used to describe the process of dropping out of a partnership or membership interest of a limited liability company (LLC) into an ownership interest in investment real estate and then exchange or swap for new investment real estate. We are mostly in the 80ish year old range and the guy who manages it wants to totally retire. We have had two members die and another gift his share to his adult children. I will be hit by the Obamacare tax, too. Nothing to do but pay tax on the sale as I can't 1031 my share. On the good side the price is unbelievably high due to the current bubble on this type of property.
My conundrum is where do I invest the proceeds given current economic conditions which seem quite bubbly to me?
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Last edited by manaboutown; 11-19-2021 at 06:54 PM.
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