All Forum Posts by: Nick Fegley

Great advice, thank you for taking time to help me! The pending property I mentioned has a sales contract on it, closing February 15th. So no 1031 exchange for me this time. @Dave Foster I will keep you in mind in the future if I get another property and reach out earlier rather than later. 

My rental in Maine was my primary residence, but lived in only about 18 months. The reason I left was because I got orders in the Military to be transferred. Do anyone know if I put that on the market this summer, if their is a Military exemption from CG due to being transferred early?

You all are awesome, please let me know what I can do to help you.

Wow, you all are great. Thank you for your warm greetings. Great advice as well, I will search more on 1031 exchanges. Do I understand right, that I must have another "like" property under contract prior to closing on my flip that's under contract? Also, is 15% of the profits what I can expect to pay for CG? Thanks!

Thanks Michelle. Funny thing is I recently put a request into my local library for that book, tax strategies for savvy investors. Good to hear that you recommend it, I will go check it out.

I'm Nick Fegley. I sure wish this site would let me upload a pic from my iPad or iPhone! I'm in the military, bought 4 places, lived in 3 of them, and have sold 1 with 1 pending. I want to learn how to do my taxes for my rental, and the affect of selling it? Also my pending property was an investment, so I think I'll owe 15% CG next year, but unsure of that as well. Wondering if I should form some sort of corporation so I can reinvest money without paying CG and buy a car and write it off as a company expense. Any guidance on books is greatly appreciate. Sorry for no pic, it might be user error. 😎