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re: Best Way to Transfer Real Estate to Heirs
Posted on 8/21/23 at 4:08 pm to LSUFanHouston
Posted on 8/21/23 at 4:08 pm to LSUFanHouston
quote:
Need a 1065 to make the 754 election.
Don’t really see how that’s relevant.
You only need a 754 if you’re in a partnership. Otherwise you just get the step up on the partnership interests and you don’t get benefit inside the partnership.
But if the asset is outside a partnership then you don’t run into an issue where you need a 754.
This post was edited on 8/21/23 at 4:16 pm
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