Need help on how to obtain records from 2020 showing his old tax lien was released.

Asset class conversion creates an opportunity for Massive value-add, creating enough value for a cashout refi, allowing for millions to be taken out without a sale, which means no Capital Gain, which means no taxes.

Just wondering if newly weds can still qualify for the exemption and if my wife not being a citizen will hinder any capital gains tax exemption qualifications.

My questions are: Are they any implications (tax or otherwise) to my friend or the LLC?

@Anx Carter Your safest bet is to have your CPA/tax professional determine the land value.

You will have to pay up the property taxes.

Your resident state CA will tax all of your income, including out-of-state gain.

Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

There is no inheritance tax given the value of the estate.

My question is do I need to use all of the equity towards the down payment of the property, to avoid capital gains tax?