If you did, you could take advantage of some unique strategies, like renting it out while traveling (as long as it’s for 14 days or less) and having that rental income be completely non-taxable.

These are not taxable events.

But once they give it to you, you inherit their cost basis and have a taxable gain.

Deductions like mortgage interest, property taxes, insurance, repairs, and depreciation will help offset taxable rental income.This post does not create a CPA-Client relationship.

To defer all of your gain, you'll want to trade up in value, replace all the debt (meaning new properties have at least $350,700 of debt), and not take any cash from the exchange (this is boot which = taxable gain).As for replacement property, it just has to be real property - meaning it can be commercial, STR, land, etc!

This would allow you to access some cash for other purposes ( Tax Free) because a refinance is not a taxable event.

Yes, Spain has a wealth tax but it's above €2 million taxable income and the rate is low so it's not going to kill you.3.

Rent cannot be more than 50% of income, 59% if it is non-taxable income.

This loan is neither taxable nor penalized if repaid within five years.

All the partners must agree to make the choice, and the partners must be able to figure their own taxable income without figuring the partnership's income.