Best of luck on your journey, and if you ever want to brainstorm strategies or need advice, feel free to reach out!

Fire pit free for all. 

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating assetI would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.I sold my primary residence and I have several rental properties which I use as I'm fixing them up.What I'm pondering is living aboard and working aboard developing a new product, while traveling.  

Remember you are exempt from excise franchise tax if you file an exempt form.This post does not create a CPA-Client relationship.

I also suspect inflation will drive continued migration to lower cost of living / lower tax states.  

Data is the most important part of the success.If you want to chat more, feel free to shoot over a message

Especially if your son could then try to sell his primwry with the ADU under the sec 121 tax exemption I wonder if he could sell you the land?

Things in your tax filing need to be really off to do this.Being a REP/active participant and using cost seg to offset a spouses (or your own if that's all you do) W-2 wages is fairly common practice.

I’d love to hear more about your goals and how you’re planning to use your license to grow.Wishing you all the best on this journey—feel free to reach out if you ever want to connect or chat strategy! 

The 1031 exchange rule to defer your tax is two part 1) reinvest all your proceeds and 2) purchase a property (or properties / DSTs/TICs) with an equal or greater market value.