Scott Smith
Dealer or Investor? Capital gains for opportunity zones
Hi,I have a question that boils down to whether I would be classified as a "dealer" or "investor" in the eyes of the IRS... I am looking for insight from some one with experience on this (real estate tax adviser, CPA...
Dan Hawker
1031 exchange to save taxes
We recently purchased a property that we rehabbed and are curious how long we have to hold it before selling it using a 1031 exchange to a more expensive property.
Dimple Khurana
Q on Bank Owned Sale with Owner Occupant Only Review Window
I am looking at purchasing a bank owned property in Kansas which is only reviewing owner occupied offers for the first week, and then will look at investor offers. What are the owner occupancy rules, e.g. could I sit ...
Michael Batshon
1031 turning into a primary residence
Hi there,I currently own a 1 bedroom condo in the bay area and i am renting it out. The condo is worth about 820k and i want to sell it to buy a single family house about 20 miles away. I paid 560k for the condo in 20...
Wayne Emminizer
1031 Exchange to New Rental / New Residence Question
I have been trying to learn all I can about the different real estate strategies and I always like to have multiple exit strategies. Completely understand in a 1031 exchange the new property needs to be a higher basi...
Michael P.
1031 Exchange on my flip
I just entered into contract to sell my investment property that I purchased on June 2, 2015. The profit is in gross terms $240k, but with write offs, commissions and transfer taxes, I think I can reduce the capital ...
Mark Creason
1031 Keys
Having spent some significant time working with borrowers buying and selling property who are trying to complete a 1031 exchange, I thought I would post regarding my experience.1031 keys:1. Defer income tax.When selli...
Jennifer Roberts
When can you relist a newly purchased property in a1031 exchange?
I had a question that my QI couldn't really answer. Before I bug my poor CPA again, I'm wondering about the collective consensus of this group. How long do I need to keep a newly purchased property that I exchange in ...
Account Closed
Quick 1031 Exchange Question
Purchase price $600k
Rehab: $100k
Sale price $800k
Gain: $100K
Is it possible to take the $100k Gain & buy a $100K property cash w/ 1031 exchange?
Steven Scheibe
Tax treatment for demolition of building for investment purposes
Hi,I am looking for some tax guidance on my first ground up construction. In this scenario, say I acquired the property for $1M and the city tax assessor has it documented that my land is worth 900k and the building i...