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But what if the contributing owner has transferred his or her interest in the LLC to a successor?

Such transfers are common in family LLCs and not uncommon in other LLCs.

The concept of taxing the contributing owner on the built-in gain in contributed property also extends to of the distribution, but the calculation is more complicated.

A partner who receives a distribution of property (other than money) must recognize gain in an amount equal to the lesser of (i) the excess distribution or (ii) the partner’s net precontribution gain.

Does the successor stand in the contributing owner’s shoes when the LLC distributes the contributed property? The successor, like the contributing owner, is liable for tax on the built-in gain in the contributed property.

However, and this is helpful, the successor is also treated as the contributor for purposes of applying the exception for distributions of contributed property to the contributor.

Are they tired of discussing its operations with you?

Do you or the other owners covet the company’s assets?

Are you tired of discussing the company’s operations with the other owners?

Does it seem time to split things up and let each owner go his or her own way with a share of the LLC’s property?

If so, it may be time to dissolve and liquidate the company and distribute its assets to its owners.

Financial instruments convertible into money or marketable securities are also marketable securities, as are financial instruments the values of which are determined by reference to marketable securities.

Marketable securities may also include actively traded interests in precious metals and interests in an entity if substantially all of the assets of the entity consist of marketable securities or money.

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Another is for marketable securities acquired by the partnership in certain non-recognition transactions (that is, transactions when an exchange results in no gain or loss for tax purposes).

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