Soh Tanaka
Selling/Buying a House Under LLC Using 1031
Hello All,I am considering selling a property that is owned by LLC (IL LLC), and buy another one in another state. The problem is, I don't want that particular LLC to buy a property in another state. But my understand...
Lon Coleman
Moving a 1031 FROM a LLC into my personal name
All - I took some bad advice and put the 1031 Exchange into my LLC. I am now learning the reality of that. In order to purchase another house using the 1031 funds, I will need to use a commercial loan due to the LLC...
Chinmay Gupte
1031 & LLC & Financing new property
My partner & I have a property titled under LLC. We will be selling it & doing 1031 exchange to buy a new property that is higher price than the property we are going to relinquish. It will be a "like-kiind" e...
Brian Jasinski
Trust Related Tax Question
Question regarding a property held in a irrevocable trust.Home value is $750K, owned outright by the trust - no mortgage.A family member lives in the house, no rent is charged.Meanwhile, the trust is paying for the ma...
Shea Spinelli
January Rent in December?
Happy New Year everyone - hope 2017 was great!We receive payments online via Cozy and I am entering our payments received into Quickbooks to finish the year. We had a few tenants pay online for January of 2018 on Dece...
Byron Gardner
Is a 1031Exchange an option?
Is this scenario an option for a 1031?- Three owners of Two commercial real estate properties - owner A has been unwilling to sell, buy out owner B and C or lease one empty property, emptied out bank account sabotagin...
Kevin Leonce
1031 Exchange and Transfer of Asset or Funds
Hello everyone,I have a foreign entity that owns a SFR and I also have a local entity. I have intentions of selling the property in the foreign entity and I want to do a 1031 exchange but ideally, I will like to trans...
Joel Johnson
Common Areas in a House Hack (Taxes)
I just purchased a new, larger home. I am house hacking and renting out one of the rooms. I use TurboTax for my taxes every year and they want to know what percentage of my home is being rented? Do I get to count any ...
Gerald Marshall
Capital Gains Question.
We are selling a property that still in my wife's former married name, and looking to turn around and reinvest it in a new piece of property under an LLC. Is there a way to get around the "same name" rule of the 1031...
Marcus Brown
Does the primary residence tax exemption apply to mobile homes?
Let's say I buy land and put a mobile home on it and live there 2 years, then sell for a profit. If the mobile home is considered personal property would the profits be taxed?