Massachusetts has a 5% state LT capital gains tax, but it generally follows the federal exemption rules.If the home was a rental property, the exclusion does not apply, and you may also owe depreciation recapture tax (typically taxed at 25% for federal).

So I just closed on a duplex a couple days ago & Im going to be house hacking.

First off, the approach that was utilized in the cost segregation study might not be explicitly mentioned within the cost segregation study report.

There are rules to follow!

Sorry to jump on the back of this original post but I have a follow-up question to this response.

Just saw the news , over 1000 structures destroyed and possibly 28,000 in danger . 

We not only offered them a better comp package, but we offered them the opportunity to work for people who knew real estate investing as investors, not just as lenders. 

I always love to see the positive attitude - that's half the battle.

Just make sure you keep enough in an emergency fund in case a roof or furnace goes out. 

Newbie here...does anyone use it, whats your thoughts?