I have a single family home in Santa Maria, CA that my father has been living in rent free for 9 years. I have not claimed this as my residence, nor have I lived there. I am looking at doing a 1031 exchange for a trip...
Hello,My husband and his sister inherited 42% of an investment property in California in 2008 and the other 52% last year. They are planning to sell it this year and I believe it will be subject to capital gains tax o...
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We are selling a CA investment property (single family) this summer, and plan to do a 1031 exchange into several other like investment properties. Question is, if the title is in an LLC in CA, what happens to that L...
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As I understand it when purchasing a "replacement property" via a 1031 exchange, prorated rent, HOA and specifically property taxes should not be paid with the proceeds of the relinquished property. However what about...
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I currently have a rental property for sale. I spoke to my accountant about doing a 1031 exchange. His advice was pretty simple. I can pay the known tax rate of 15% today or hope that the tax rate doesn't increase and...
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I just went through two 1031 exchanges this past year and now Upon finalizing my taxes my CPA is telling me I owe capital gains because my loans on the newly purchased properties are less than the loans I had on the p...
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On April 9, the IRS issued Notice 2020-23, extending a variety of deadlines, including 1031 deadlines. Although the Notice is confusing, because it is not written like the typical Disaster Relief Notices, this Notice ...
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I have a rental house in Atlanta , value 500k, rent is 2600/m, thinking selling it and 1031 to a vacation rental in California around 700k, and 6000/m is it worth to do this 1031 exchange ? Thank you Ken
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Hi, Own multiple California properties in two different beach resort areas. In 1999 built a home on one of the properties. It was not a vacation home, but was held for investment and depreciated it on day one. I also ...
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I have a rental property that I have decided to sell as it is no longer a lucrative cashflow opportunity. The property was originally purchased 4 years ago as our primary residence, but decided to move out and rent th...