Alex Howard
What are my short term capital gains tax?
My wife and I are in the 22% tax bracket for our employment income. Is the rate my short term capital gains taxed at dependent on the amount I make from the sale of my flip or is it taxed at my income rate (including ...
Buddy Holmes
Call for a simple equation for new Basis in 1031 Exchange?
How to Calculate new Property Basis in 1031 Exchange
Define terms:
Property sold
P1 = Original Purchase price of property exchanged
TDP1 = Total Improved Property = P1 – LV1
LV1 = land value when purchased
TD1 =...
Sam Dal
Passive RE investing and unallowed losses
Guys - this is regarding investing passively in multi-family. Can you take unallowed losses accumulated for a property directly against capital gains when the property is sold? In addition, am I accurate in stating th...
Andrew C.
Selling a 1031 exchanged property with increased debt
I have never sold a property that I've previously 1031'd into. I am confused on how to think about my potential tax liability and I've had different opinions from professionals. The scenario is that I bought a house f...
Bill Ramsour
1031X minimum requirements
I'm trying to understand the exact requirements on a 1031, but keep getting confused. I know... "talk to a pro for my specific needs"... and i will before taking action, but I'd like to understand my options before p...
Sheila Zhou
Tax w/ & w/o 1031 exchange with multiple replacement properties
I greatly appreciate any comments/corrections you have on my calculation!3 properties are involved here. R, A and B.In 2010, we converted our primary residence R to rental. At the time of conversion, the property R’...
Eric Bailyn
Gifting Single Family Residence to Son: Any tax implications?
Hi Everyone!
My mother would like to gift her $850K house (100% owned; no loan) to my wife & me. At the same time, my wife & I would sell our $1.5M house ($1.4M is equity), and use the proceeds to 1) transfer...
Account Closed
International Property and Capital Gains taxation questions!
Hello, new to BiggerPockets! I have questions regarding my international home sale in South Korea. Hope somebody can help. I am a US citizen, living in South Korea, married, filing jointly. Our salary is $60k. Our ...
Pankaj Kumar
How to defer/avoid capital gains tax on sold rental property
Hello All. I am new to the forum. Looking for guidance in relation to the sale of my rental property. I became an accidental landlord 3 years ago. I went to work for a company 3.5 years ago and bought a new constructi...
Kristopher Rodriguez
Question involving Capital Gains, 1031 Exchange, Seller Financing
Hello to all! Thank you in advance for reviewing my question. My question involves three parts: Capital Gains tax liability, a 1031 exchange, and seller-financing. Here is the scenario:
- Investor purchases a propert...