All Forum Posts by: Jamie Engledow

Well, personally I have never walked into a Walgreens that was carpeted, outdated, and had a funky smell, but I have been to many CVS stores that were exactly that. If you own the building, Walgreens will maintain and be more modern. CVS can keep their properties in some really dumpy conditions.

Or you could switch it around and live there the 1st 2 years and rent the next 3. Or live the middle 2 and rent out the other 3. So long as the year you sold the home it was your primary residence 2 of the past 5 years.

In general, if this is your primary residence, the rule is 2 out of the last five years. So, you could purchase in 2015, rent it out 2015-2018 and then live in it in 2019 and 2020 and exclude gains up to the $250,000 or $500,000. The amount of gain that may be excluded is $250,000 single or $500,000 filing joint.

I cannot offer you an answer on this one, but can say I have never seen or heard of such an arrangement! Hopefully an attorney on this sight will respond. Good luck!

Lol! Great question! Haven't heard or thought about this question before. If the property is currently a rental, my instinct is to expense it. Removing the tree does not seem to be an improvement to the property and a tree is not a permanent fixture to the house as your roof would be.

If my job would allow I would post here and offer a lower fee, however, I do believe what you were quoted fell within FMV.

sounds reasonable to me. It is time consuming keeping accurate books.

sorry, John Novu, my earlier comment was not directed at you. Please ignore.

Honestly, I have never understood this LlC crap to protect against collection I will assure you that the government can collect from you no matter what entity you hide behind.

@Carl Fischer I agree! I am on the East Coast and in no way do I meet the 2 months as specified by poster!