Jason Lucas
do I HAVE to buy target property
When doing a 1031 exchange, I know I have to target 3 properties. I heard that I do not have to buy one of those 3, I can buy a different property not targeted, is this true?
Benjamin J Haithcoat
How to deal with taxes from income procured from wholesaling
Hello,I am a new-comer to investing. I plan on wholesaling at first to build up my capital while at the same time growing my network and learning all I can about the business. While my plan isn't to remain a wholesale...
Brent B.
Tax Planning for New Landlord
Hi BP,I began renting my previous single family residence in San Diego CA earlier this year, in May 2019, when I bought my new primary residence in San Diego. I have not set up any type of corporate entity, rental pa...
John Moksnes
Personal vs. Investment Property IRS Designation/Classification
I am looking to turn my personal property into an investment property and then 1031 exchange into a multi-family home. How long do I have to rent out the personal property (do I have to move out or purely rent a room?...
Matthew Lockwood
1031 Exchange - Can I buy my wife's rental unit?
Here's the scenario:1) I bought a house 17 years ago in Tx for 45K. Paid off the note. Just sold for 90K. 45k capital gains.2) My wife owes 45k on a house she bought years ago with her ex. He quitclaimed the house t...
Harry Perrette
1031 exchange between 2 LLCs I manage.
I searched the forms but didn't find the info that I am searching for.We are selling a piece of property for 850,000. We currently own a building that has a loan of 325,000, with a recent appraisal of 400,000. Both of...
Rachid B.
Capital gain tax 5 years rule question
Hi everyone, I would appreciate if someone can answer this question for me.I bought a house in Houston in March of 2012. We lived in it for two years and been renting it since.I am selling my house next month which wi...
Norman Scott Duncan
Sale of property within LLC
Three family members have owned a house for 10 years - always occupied by a family member. This year we placed it in a LLC (Limited Liability Company) in order to rent it for about 3 months of the year. Now we have ...
Dimitri Carso
Primary residence - to rental -than back to primary residence
I have a rental property that was originally purchased as my primary residence. I rented it for several years and now want to occupy it again as my primary. If I occupy for two years can I then sell and be exempt fr...
Bob McKee
Exchanging 1 multi-family for 2?
Hey all. Just joined and posting for the first time. I have historically made gains living in places then selling them. For the first time I am looking to sell a multi-family I never lived in and buy a new multi-famil...