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Updated about 3 years ago,

Carl Trevino's profile image
Carl Trevino's profile image
Carl Trevino
  • Rental Property Investor
  • from Decatur, TX
  • Member since Sep 5, 2015
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Carl Trevino's profile image
Carl Trevino's profile image
Carl Trevino
  • Rental Property Investor
  • from Decatur, TX
  • Member since Sep 5, 2015
Connect
Carl Trevino
  • Rental Property Investor
  • Decatur, TX
0
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2
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Tax, SDIRAs & Cost Segregation

Selling gifted house.

Carl Trevino
  • Rental Property Investor
  • Decatur, TX
Posted

My parents gifted me a house about 8 years ago. I have rented it off and on for since then. I just remodeled it and about to close on a sale.

Questions

Is there a way to deduct the FMV from the profit or is that only for inherent realestate.

Will this qualify for a 1031 exchange.

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