Can I avoid FIRPTA by having my LLC elect to be taxed as a C-Corporation?
I've read that if my LLC is treated as a domestic C-Corp, the corporation can sell the property and the gain is taxed at the corporate level at 21%. Then when I eventually take distributions, I'd pay FIRPTA on the stock sale rather than the property sale. Is this right?
Some people say a C-Corp election can help you avoid FIRPTA entirely if you structure things right. Others say it creates double taxation. I'm a South Korean citizen with a $1.2M property in Los Angeles and trying to figure out the best structure before I sell in a couple years. What's the real story?
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