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?
Anthony Polk
Do land contracts qualify for $8000 tax credit?
From the definitions of who/what qualifies a purchaser/purchase for the highly touted $8000 tax credit, it appears that a change in title (to the buyer's name) is what constitutes the "qualifying event". Of course th...
Jessica Singh
1031 from a jointly owned property. One pays tax, one 1031
Asking for a friend.
Rental property bought as husband-wife. Title: held together as a married couple. Now going through a divorce, wife wishes to do 1031 on her share (50-50). Since IRS rule is that tax id of proper...
David Walkotten
1031 Exchange question - different LLCs/ownerships
Hi CPAs familiar with 1031s, I have a question.My business partner and I may want to do a 1031 exchange on 2 real estate properties. Here is the scenario: 1. We're Selling a duplex for ~$115k from my partner and my jo...
Bryan Beal
1031 Exchange ----> Reinvesting in LLC
Say someone wants to sell off some SFR properties they currently own (individually) and take the proceeds as a 1031 Exchange and invest into a LLC that is going to invest in single family real estate. Under what circ...
Denise Evans
Alabama Tax Sale Redemptions: Improvements
I just learned that Montgomery County (Alabama) has a 40-day time period for tax-sale redeeming parties. If the taxpayer sends the improvements affidavit to the investor by certified mail, and it has been more than 40...
Russell Brazil
The Effects of Pro Sports Teams Movements On Real Estate Prices
Here is a topic that would not come up that often, as it is something that is rare that happens. What do you see to prices in and around pro sports arenas as teams move into or out of a market. We see with multiple N...
Shay Kent
Do we owe capital gains? I disagree with my cpa. advice needed, thanks!
We lived in our primary home for 3 of the last 5 years. We rented it out for a year and then sold it. Do we owe capitals gains on it?Our CPA says that as soon as we rented it out it became a business and we have to pa...
Ana H.
1031 and multi-member LLCs
I have a rental property in California that is held by an LLC , call it 'California LLC' (my wife and I are the only members) and have filed for taxes in 2017 as a partnership. I am selling this property now and purc...