However, once converted to personal use, you can no longer claim depreciation, and the accumulated depreciation will reduce your adjusted basis, increasing your potential taxable gain upon sale.

The second seller gets payments on a new note worth $1.35 million.You the buyer received the taxable income event from the sale of the first property.

If your new LLC is a disregarded entity (single-member or owned solely by you and your spouse in a community property state), it won’t trigger a taxable event, and you’ll continue reporting income on your personal return.

They lowered the “taxable value” by 40-50% and then raised the tax rate about 35-45% lowering everyone’s taxes that year.

Normally this would be taxable. 

This means the buyer cannot write it off immediately but may recover the cost through depreciation over time.To maximize tax deferral, sellers should consider negotiating a price reduction instead of a repair credit to avoid potential taxable boot (excess cash retained).

Depreciation, mortgage interest, and expenses can reduce taxable income.

This could reduce your help lower your taxable income if the investment aligns with your lifestyle goals.

We are looking towards STRs in order to lower our W-2 taxable income via cost seg and bonus depreciation.I believe my line of work qualifies me as a REP, but what I am not clear on is whether I would still need to meet the 'material participation' requirements in our rental business in order for our losses to be non-passive.

This 1031 Exchange Calculator can help you model out the taxable proceeds based on various situations.