Alex Asen
Tax implications of building an addition & selling it as a condo?
I own a 2,000 sq ft single-family outside of Boston, which has been my wife's and my primary residence for 2+ years. I have ZBA approval to create a two-family by building a 2,000 sq ft addition mostly in my current...
Zach Johnson
Selling a SFH Househack and the 2-Out-Of-5 Year Rule
Greetings all,As you know, the 2-Out-Of-5 year rule says: you must have lived in your home for a minimum of two out of the last five years before the date of sale in order to take an exclusion from capital gains upon ...
Jered Sturm
Tricky Tax question on sale of primary residence.
So I will begin by saying I have already spoke with my CPA regarding this. I am here for second opinions from other wise investors and CPAs. I purchased a home 9 months ago to live in with my wife. Shortly after I bou...
Agustin Rossi
IRS rules: avoiding taxes on up to 500k profit
Can someone please explain the IRS rule that allows homeowners to avoid paying taxes on up to 500k in profit from selling their primary residence? Like what is the specific criteria that this deal and property has to ...
Andrew Yu
Tax Questions on Using My Home's Rooms As AirB&B
I'm about to make my spare bedroom's AirB&B live. My question is what's the best way to report my income on this and also reduce taxes? Put my home in a LLC? We don't want to miss out on the zero capital gain when...
Victor Yang
if i gift a house, is the cost basis what i purchased it for or the FMV?
Hello,If I gift a house, what amount will go towards the lifetime gift limit, the amount i purchased the house for, or the current FMV?It is my understanding that the new owner will have the house at the cost basis of...
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Legal Advice for All Investors
I found some good legal advice for contracts, documents, consultation it really helps for me getting my deals together and making sure I stay in the guidelines of real estate
www.prepaidlegal.com
[edited by administ...
Neil Smith
Deferring taxes on profits from sale of primary residence?
I have a potential client who owns a home in Boulder that is their primary residence and it worth ~$1.3M and they have >$500K of equity in the property. They're wondering if they sell and put all of the proceeds of...
Bob Williams
Excusive listing cointract
On 4/26/2016 I engaged a local realtor to serve as my exclusive agent concerning the sale of one of my properties. In addition I signed an "Office Exclusive Certification" to Multiple Listing Service of Long Island ...
Mark Callicott
Best list generator for land deals
What is the best lead generator for vacant land deals? I have been using propstream for single family but it doesn't seem to work well for land deals.