Chris L.
Cost basis on discounted property
If you did a partial sale/partial gift purchase of a business from your parent and the purchased and gifted portions were discounted( lack of marketability and lack or control discounts)..... If you paid 350k for 51% ...
John Brackett
Real Property Exchage for Note (live deal):
Tax Question (two scenarios) - Question builds so please read all three bullet points and provide feedback:
1) Capital Gain – seller purchases a property for 40K. 20 years later property is fully depreciated and se...
Alex S.
Seller financing interest only note( tax question)
When you sell a property seller financing via interest only loan. Do you still have to pay taxes on installment sale being that you are not getting any of you principle back yet? Assume pay taxes on deposit portion?
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Chris L.
NJ tax question on sale of house co-owned with parent
When my father died I inherited 25% of my fathers portion of my parents property at step up (mom disclaimed this portion) and my other brother inherited 25% at step ups as well (mom disclaimed this portion as well). T...
Sarah McCarty
1031 exchange owner occupied unit
Hello: I am selling my owner occupied two family home and buying a single family home. Similar value and mortgage on the properties. I am planning on converting part of my new primary home into an accessory apartment ...
Chris Lynn
Sec 121 + 1031 + Sec 121 + 1031 = Say What Now? Can we do this?
Four years ago we got lucky and were able to buy the 2-unit building we'd rented in for the previous 18 years. One unit was vacant and we fixed it up with the intent to AirBnB it. Just as it was finished, my mom was f...
Maria D'Aura
1031 condo to 2 unit and live in one?
I’m selling a rental condo and looking for replacement property. I found a single family home with an in-law that would be great for us as a primary residence. Is there a strategy that would make it possible to 1031 i...
Michael Hellman
Cost Basis after subdividing a property
Hello. I purchased a home in late 2007. I live in a small garage apartment for 4 years while renting out the main house. The property had a large double lot in a nice neighborhood, so in 2014 I subdivided the lot a...
Etan Frankel
1031 Exchange - Strip Mall to Multi Family
Am I able to do a 1031 exchange from a strip mall to multi-family? If yes, am I allowed to be a tenant in the multi-family?Thanks!
DJ Roshan
Capital gains exemption on primary residence with rentals.
Hello, I am wondering if the capital gains tax exemption of up to $250,000 for filing single, $500,000 married still applies to a residence that has a primary residence but also several rental mobile homes. Any reason...