All Forum Posts by: Kiran Dhillon

I have a question. We are in a situation, we had sold SFH investment property in March 2024 and didn't buy anything and have about $100K in capital gains. My question is if we buy something now and do cost seg and have bonus depreciation.... can we offset that $100K of capital gains?

0 Votes

Stockton, California

Quote from @Dave Foster:

@Kiran Dhillon, You have to take title to at least as much real estate as you sell. Anyone can take title to the other %. If you sold for $500K then you nee to purchase for at least $500K. If you want a partner to take title as a tenant in common to the other $500K that is perfectly fine. No need to wait.

yes you're right. Thank you Dave

1 Vote

Quote from @Bill B.:

Nope. As long as your share is more than $500k, and you reinvest all your cash you’ll be fine. You could buy a $500k property, 1/2 of a $1mil property, 2/3rds of a $750k property, or 1/10th of a $5million property. (Or more in each case obviously.)

okay i see, Thank you Bill

0 Votes

Okay that make sense. My tax person said that i have to buy on my name and after one year i can add partner in it.

0 Votes

Hi All, I had owned a property on my own name and just sold it last week and transferred the money into 1031 exchange. I want to know if i can buy replacement property with a partner. I Sold the property for $500K and we want to buy a million dollar property but i don't qualify so i wanted to see if i can have a partner and i have my 50% share.

0 Votes

All Forum Posts by: Kiran Dhillon

Kiran Dhillon has started 2 posts and replied 5 times.

Post: Cost Segregation: (offset capital gains)

Post: In 1031 exchange can you buy a replacement property with a partner

Post: In 1031 exchange can you buy a replacement property with a partner

Post: In 1031 exchange can you buy a replacement property with a partner

Post: In 1031 exchange can you buy a replacement property with a partner