Does Section 121 Apply To Property Held In An LLC?

My client purchased a home in her personal name. The client plans to rent the home during the summer as she has a personal residence. The client intends in moving this property into an LLC. If the client decides to convert the home back to a personal residence, does it matter that it is in an LLC for Section 121 capital gain exclusion purposes?

Is It A Taxable Event To Move A Condo Into An LLC?

My client has a condo with a basis of $250,000 and an accumulated depreciation of $45,000 as of 2014. It was reported as a rental property on Schedule E of Form 1040. However, as of the beginning of 2015, the condo was placed into service as an asset owned by a multi-member LLC. The deed associated with the property was refiled. My questions are as follows: