The most common withholding exemptions are the sale of your primary residence if you qualify for the tax-free exclusion under Section 121, exchange of rental/investment property if you qualify for tax-deferred treatment under Section 1031, or if you are a corporation, partnership or other entity that is not disregarded for income tax purposes.

I call them Safety and Water Inspections, check all the smoke alarms and under every sink, this gets me a visual of pretty much the entire property.

New CabinetsAnything else should cost less than $2000, and even items 3-6 above should be less than $3500.So, learn how to visually inspect the roof and learn how to identify structural issues, and any additional surprises really shouldn't hurt you too much, even if you under-estimated the repairs.Of course, if you ever had any major concerns about structural issues, hire a structural engineer for $300, and if you have any questions about the roof, you can generally get a roof inspection from a roofing contractor for free.

The revenue procedure provides six examples that include illustrations of the treatment of depreciation and boot in which both the benefit of §121 exclusion and §1031 deferral could be used.

Rental income is not a requirement for 1031 treatment.  

I have a whole home inspection scheduled that will include visual mold, and radon inspections as well.

@Jason Bajaj, Based on your description of ownership length and use the property certainly qualifies for 1031 treatment. 

Little summary about me, I’ve been in the water treatment industry for 4 years now for a municipality in westchester county.

Since so much of social media is visual, your eye-catching photographs and engaging virtual tours will really go a long way across all your online networks.Go Old-Fashioned for Local BuyersSometimes you just have to rely on the old-school way to market.

Everywhere I have looked just talks about eliminating the capital gains on the original investment-but no discussion on the treatment of gains on the plan assets (which is what I really want to eliminate when I cash out, instead of having to roll into a 1031).Thoughts?