Hi everyone,For those who took their real estate license class online with AceableAgent, I heard they often offer great discounts and coupons.

Just be mindful that you can't 1031 a personal residence but it might be eligible for capital gain exclusion from section 121.

For 2024, the annual gift tax exclusion is $18,000 per recipient (rising to $19,000 in 2025), and amounts above this require filing a gift tax return (Form 709).

The capital gains exclusion is available to owner occupants primary residence.

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.- You mentioned this sale is tax free 121 exclusion, which is great, and seems like a solid start to your goal.- The townhouse you're moving into is currently a rental, but you plan to live there two years for the 121 exclusion.

If you could buy it with a 15% discount: $60,000And rent discount at $2200 mo. with a 5% increase annually would be: $132,615 for 5 yearsYou would be buying the home at a 48% discount in this example.

Unlikely to be any tax due if this is your first gift, but it will count against your lifetime exclusion down the road. 

This lender has a floor rate of 6.75% on this program (.5% discount points added to get 6.75%)Same lender can do 6.19% with 3 discount points on their other program (plus broker fee on top) if you do want a low 6% rate. 

Any amount above the annual gift tax exclusion ($17,000 for 2023) counts against your lifetime exemption.