Let's say the main house is 60% of the asset, you can then exchange 60% of the value of your sale into another rental property and pocket 40% of the gains under your tax exemption.

If so, you get the personal exemption of avoiding taxes on up to $250,000.

The bill would exempt nonprofit organizations and other entities primarily engaged in the construction or rehabilitation of housing from the definition of “investment entity.”I'm curious on what everyone's thoughts are on this.

It's crucial to note, though, that this extension pertains to filing only and does not grant an extension for making tax payments.Don't Delay Your PaymentsWhile the extension offers relief on the filing front, it's essential to understand that it does not exempt taxpayers from making their payments.

Is there a way to structure a scenario where a long term tenant of a single family home can receive homestead exemption?

Sfh are exempt from rso, does that mean that the first unit will loose its rso protection now that there is only unit in the lot ?

I had originally thought I would rent for year and do a 1031 to avoid cap gains tax,  but I was told since I am a real estate professional ( I am a broker),  I would be exempt from cap gains.    

An exempt entity still needs to file an exemption (or for an exemption) and thus should still be listed as an exempt LLC? 

As to your primary residence exemption, if you don't live there and you claim primary residence exemption that would be tax fraud.

If you have lived in a home as your primary residence for two out of the five years preceding the home's sale, the IRS lets you exempt $250,000 in profit, or $500,000 if married and filing jointly, from capital gains taxes.