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15 June 2014 | 12 replies
It would appear from your post that 100% of the property that you are selling is your primary residence, so if this is the case, the sale will not qualify for 1031 Exchange treatment since it was not held for rental, investment or use in a business.I second the comments above, if you can wait for an additional six (6) months and pass the 2 year mark, then you get $250,000 in tax free gain (as a single person).
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14 November 2017 | 7 replies
You need one year for Long term capital gain treatment
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24 August 2023 | 23 replies
Just be aware of the tax treatment of short-term rentals (average rental period of 7 days or less) vs "traditional" rentals, especially if substantial services are involved.
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18 September 2017 | 15 replies
Really, really bad experience and treatment.
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1 May 2016 | 11 replies
Once you exceed the three (3) year window the property will no longer qualify for the 121 Exclusion, but it will be considered 100% rental/investment property at that time and will qualify for tax-deferred exchange treatment under Section 1031 of the Internal Revenue Code.
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8 September 2018 | 21 replies
On the other hand, the plaster walls are less likely to allow the urine to soak into them (in the case of spraying) and, if needed, the treatment with the oil based Kiltz should seal any odors in.Gail
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3 August 2017 | 3 replies
Setting up an Accountable Plan is usually the best way of getting the most favorable tax treatment.
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19 December 2017 | 2 replies
For more detailed help with determine structure, read: Loopholes of the Rich: How the rich legally make more money and pay less tax. 3 Reasons why LLC’s and LP’s are best for RE Investing: Capital Gains Treatment - Capital gains flow through to the individual who normally pay less tax than corporations.
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27 January 2013 | 15 replies
Personal property is appliances, carpeting, window treatments, window A/C units, awnings, any kind of floating flooring, kitchen/bathroom cabinets, etc.