The software is going to be very conservative with your write-offs.

In my experience, you can purchase the existing home and the encroachment is grandfathered in, meaning the vacant lot owner can't force you to move it.

In this case the document was written by the landlord so it so the fact that the lease doesn't make good sense should be interpreted in the tenant's favor. 4.

The seller needed to move out of the country so they wanted to sell and shut down the property.

If you have lived in the property for two out of the previous five years you could qualify for the 121 exclusion, where you get the first $250k ($500k if married) of the gain tax free.

It makes all the difference.

Also - Steve is the best RE consultant here in the state! 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck. 

Naturally your relinquished property must be sold before you can take title to the new property, but its a great way to make the process as smooth as possible.Even though the time frames can feel daunting I find that 95% of exchanges from my clients are successful.

I am new to BP so far I really enjoy all of the information that is at your fingertips and the awesome advice.