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Updated over 9 years ago on . Most recent reply

Hiren Patani's profile image
Hiren Patani's profile image
Hiren Patani
  • Investor
  • from Houston, Texas
  • Member since Nov 13, 2015
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Hiren Patani's profile image
Hiren Patani's profile image
Hiren Patani
  • Investor
  • from Houston, Texas
  • Member since Nov 13, 2015
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Hiren Patani
  • Investor
  • Houston, TX
10
Votes |
50
Posts
Buying & Selling Real Estate

1031 Exchange?

Hiren Patani
  • Investor
  • Houston, TX
Posted

Hello,

Recently I sold my primary residence (condo) after staying in it for few years and got some good appreciation when I sold it. My title company told me they will report the money that the buyer gave me (after paying to Mortgage bank, agent, etc) to IRS. 

Do I have to pay tax on it? If so, what are my options?

Btw I did brought another house (before selling my primary residence-condo), which is now my primary residence.

Thanks,

Hiren

  • Hiren Patani
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