I have an S-corporation (Company A) that owns a building and land assumed with a SBA loan. I want to transfer these assets to a new LLC (Company B) which is a new real estate business operating as a S corp. The guarantors on the loan are shareholders in company A but only two of the guarantors/ shareholders have ownership in the new LLC (Company B). I basically want to separate the two assets assumed by the SBA Loan from the company A. How would I transfer the assets as it relates to accounting transactions and tax rules/consequences?
USA Transfer of Assets to LLC
- Thread starter Acct888
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