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23 June 2019 | 8 replies
@John PelaezAshish hit it on the nailThe answer in tax is that it depends especially since you didn't provide detail on the "property"If the property was a personal residence - you may be able to exclude a portion of the gain if you lived there for 2 out of the last 5 yearsIf the property was a flip - the gain is ordinary and not eligible to be deferred.If the property was a rental property - the capital gains rate will be 0%, 15% or 20% depending on what tax bracket you fall into and if you held it for more than 1 year.You would have needed to contact a 1031 intermediary BEFORE the sale to potentially defer the gain.
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4 August 2018 | 19 replies
@Anthony Galbo Thank you for the detailed advice.
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3 August 2018 | 3 replies
I don't know the details on this yet, but suffice it to say the tenants of this property aren't going to make any part of this process easy for anyone.
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17 October 2019 | 9 replies
Are there any references or books you can suggest that detail general landlord law and how to legally declare a piece of property as a rental property?
3 August 2018 | 5 replies
I will prepare this as if I will be taken to court and need to provide detailed evidence on the amounts I have deducted.
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5 August 2018 | 5 replies
@John Thedford could probably give a little more detail as he is pretty up to speed on what is allowed by law in FLA
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3 August 2018 | 0 replies
Details below -I purchased my first 4 unit (2 bedroom 1 bathroom) multifamily house hack property in June, and I've just entered 1 unit.
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7 August 2018 | 1 reply
Feel free to connect so we can chat and give you more details to see if we're able to help you with your property.
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8 August 2018 | 3 replies
Do you have any more details you can share on the process?
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30 August 2018 | 9 replies
My Questions:#1 - Understand may need more details but in general is converting my first purchase to an LLC really going to strengthen a case to get a past owner out of the property?