Jake Andronico
Tax benefits - 1031 Exchange OR Section 121 exclusion on the same property...?
Accountants, CPA's and 1031 Exchange experts - this one's for you. I was discussing a scenario with my RE partner where a property could be considered a Primary Residence AND an Investment Property, which could potent...
Bryan Petrinec
Seller Financing Tax Implications for Seller
How is income from a seller-financed property treated from a tax perspective? I am considering selling a property that has no mortgage on it through seller financing. I know that if I were to sell it through a stand...
Jon Schwartz
How long until I can 1031 my primary residence-turned-rental?
Hi all,I’m buying a new house. If I keep my existing home as a rental, how long must I hold onto it until I can sell it and use the profits in a 1031 exchange?Thanks!
Aaron C Perry
Investing in Real Estate on Active Duty.
Hi everyone. I’ve been on BP a little under a year now just absorbing the knowledge through the many articles and blogs available. I’ve also been reading books on REI like “Crushing It in Real Estate and Commercial i...
Kenneth Kussman
Quitclaim ownership to son
I live in Texas, can I Quitclaim ownership of my home to my son without problems before I get married to keep it out of a new marriage?Would it cause problems for my son?Also, I still have a mortgage, will that be a p...
Jesse Barahona
Tax question in Texas
Hello everybody! Quick question, I have some body that is going to sell their home, Single Man 3 years living in the property as a primary. Bought it using an FHA Loan, What are the tax implications on this? When he s...
Colin Williams
Long term capital gains tax
I have a question about long term capital gains. My original basis in my primary residence was $230k. I refinanced at $600k with cash out. Is my basis still $230k or does it increase to the $600k? I'm trying to figure...
Michael Kaminski
Purchasing new Primary Residence, keep current or rent? Thoughts?
Currently we are looking at a new Primary residence around $700k. Current primary appraises around $625k and I owe $100k on it. We currently have one significantly cheaper rental that has been working out well and has...
Tamara R.
Separating when buying your houses?
When financing real estate do you try to keep it in one spouses name or the other? I know there is some benefit to having four or less and many people each spouse gets four instead of both so you can have more before...
Sylvia B.
Tax on capital gains question
Married couple filing jointly has taxable ordinary income of $30,300 and long term capital gains of $100,000. How much tax is owed on the gain?A. $0 because taxable ordinary income is below the threshold level of $75,...