All Forum Posts by: Kate Li

@Dave Foster one more question: does the whole 350k applies to the 250k/500k real estate capital tax exemption or the net of the initial down payment is eligible for 250k/500k real estate capital tax exemption?

@Dave Foster thanks for the input. 

I lived in one of four units for more than 3 years in the past 5 years. The anticipated selling price is 1.4mm and the new property I want to buy is 850k. Want to see if 1031 exchange is better than a regular sell and buy.

Hi,

I own a 4 family house where I lived there for more than 6 years. Then moved to another state in the past 1.5 years. I want to sell this house and it’s 1.4mm. The purchase price of the house was 700k and has around 400k mortgage. Through the years, the renovation cost totaled to about 85k. Is doing a 1031 exchange for another property at 850k selling price makes sense. Or I should do a straight sell of the 4F, and use the proceeds to buy the 850k multi-family property with regular loan?