All Forum Posts by: Puri Indah

Thank you so much, Dave! 

@Dave Foster Thank you! Great info as always! One more question if you don't mind. What if I use one unit as Primary Residence? If/when I sell that unit, would I pay the sheltered capital gain but still get the $250K tax free?

I'm actually quite familiar with TIC in San Francisco. My questions were on how to assign the sale price on each unit, or more precisely, can I assign the prices as I see fit.

Hello BP'ers,

I have a few questions and hoping you could give me some of the answers, if not all:

Scenario:Selling a rental property for $1,200,000 and thinking of 1031 exchange it to a duplex at $2,500,000.


Questions:

1. How do I apply the capital gain of the sold property: Do I have to apply to both units, or just one?

2. How do I assign prices for each unit? Is it up to me to assign Unit A for $2,000,000 and Unit B for $500,000?

3. If at some point I decide to sell Unit A and could only get $1,000,000 for the sale, does it mean I can claim a loss of $1,000,000?

4. Using Scenario 3 above, what would be the downside of assigning a very low price to unit B?

Thank you in advance for your help!

Puri

Stressful times for many of us with no income especially for small businesses who are forced to close, Airbnb hosts and those who are doing arbitrage. Wondering how you guys doing/managing these days? 

HI Jake, do you mind sharing the attorney contact with me as well?

Thank you!

Thank you both @Sam Shueh and @Theresa Harris.

I'll check with the city - I'm in San Francisco and hopefully they don't have a crazy code in place.

Hello all,

Does anyone know if a window is required in kitchens by code? Or is exhaust hood ventilation fine?

Thank you in advance for your feedback!

Puri

Thank you so much both @Bill B. and @Dave Foster for your excellent advice and guidance! Very helpful that I can now follow the right direction.