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Estate and gift tax in 2016
CPAs and the BP community with input/knowledge/experience with large monetary gifts:New Estate and Gift Tax for 2016Sometime in 2016, my wife and I would like to give my parents a large sum of $40-60k as a gift. I und...
Thomas Lee Nuckles
More than one realtor?
Why is it not ok to have more than one realtor as an investor? Being an investor means finding great deals and it’s not like great deals come often. So I’m just curious on why it’s bad business to have more than one r...
NIcholas Hamel
Capital Gains on your primary residence?
Hey everyone, had a debate with someone recently and I wanted to verify with all of you. I was told you have to pay capital gains tax on your primary residence and that you can only do a one time tax break to avoid i...
Alex Freelove
Question regarding Section 121 Exclusion
Hello!I have a question regarding the Section 121 Exclusion. Im considering selling my “primary residence “ that I have lived in for two years and have rented out for one year. I’ve got 100k in equity. Is it true that...
Dirk S.
Tax implications on sale of principal residence
Hi
I own and lived in my principal residence for over 20 years and a significant capital gains.
1 If I sell my principal residence I pay no tax on the first $250k of capital gains (filing single), but if I have ad...
Manuel Naranjo
The $250,000/$500,000 Home Sale Tax Exclusion
Hello my BP mates!!Just have a little question about sale tax exclusion. I purchased a townhouse back in 2008 and lived there until December 2014 when I rented the property and moved to a single family home. I sold th...
Serena Du
Multiple Realtors for house hacking?
I am a first time home buyer and have been listening to many Biggerpockets Prodcasts. Looking to house hack my first property ideally a duplex or house with ADU. And hopefully repeat the process for a few times.
I ...
Michael White
Seller Financing - Minimum terms?
Are there any typical minimum terms that those providing seller finance impose on the buyer? Surely as the whole point of selling financing is to obtain a long term steady income, it wouldn't be in the interest of the...
Hunter Jay Mccleskey
Exclusivity contracts with a brokerage
What is everyone’s thoughts on a real estate agent requesting that you sign a exclusivity contract with their brokerage?
William W.
Tax Implications of Sale of Primary Residence to LLC owned by me
Hello. I've seen this question asked before but I haven't seen an answer that address my specific concern. I think the question is best posed to this sub forum.I have a condo that I've owned as my primary residence....