All Forum Posts by: Lauren Ascher

FWIW my brother and I did A when my father passed because we wanted to be done with it.  If you can stomach holding it, going there and dealing with contractors, do B.

Hi all,
I'm planning to sell a condo in Los Angeles.  I sold my duplex for a profit on 10-1-15, and bought my condo on 9-4-15.  When I sell my condo, what date of sale would qualify me for the two year exemption to not pay taxes on gains?

A) 10-1-17 (two years from the sale of the duplex which I used for an exemption)
B) 9-4-17 (two years from the close on the condo)
C) 1-1-2018 (because the exemption was used on 2015 return, it cannot be used on 2016 or 2017).

Please advise!
Thanks

Hello,
I'm currently living in Los Angeles, and am looking to start flipping homes.  I would like to move to another market to start and am thinking of either Portland or Tampa.  Tampa has a lower housing cost, but I'm not sure the real estate market is as hot as Portland.  Does anyone have any thoughts or insight on which market may be better?  Thanks in advance.