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I want to pay a one time fee and need a Real Estate
I want to pay a one time fee and need a Real Estate accountant/ tax professional familiar with calculating tax when selling an investment property that was purchased through a1031 exchange. … read more
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Same person asking you about timeshares yesterday. I
For James Daloisio. Same person asking you about timeshares yesterday. I apologise- I'm still a little confused.1) We are trying to get rid of a timeshare but nobody wants to buy it. We may get a sett… read more
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I am being gifted a house by my uncle. I lived in it for
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Lane
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Lev, you helped me back in March with a section 1031
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Lev
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What is the cost to ask a CPA questions. Here's the
ok, here's the situation: i sell an income property on jun15th of this year. At closing I have $100k of the net proceeds from the sale paid to me directly but have the remaining 500k of the net proceeds deposited with a qualified Intermediary. to use in a 1031 exchange. … read more
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I am trying to figure out how to handle the sale of rental
I am trying to figure out how to handle the sale of rental property. -Rental home was put into service in June 2009 with a basis of 85,000. -Depreciation was about $3,000/year. -The home is in a poor … read more
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I sold my home and trying to do 1031 exchange with another
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Lev
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I've invested into a foreign business from the U.S. 50k and
I've invested into a foreign business from the U.S. 50k and have made another 50k profit for a total of 100k. I would to return this 100k back into the U.S. but want to maximize the net profit after t… read more
Rakhi Vasavada
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If we purchased a MF property for $901k in 2014, but could
If we purchased a MF property for $901k in 2014, but could sell it for $1.5m now, how much would be pay in income taxes? If we do a 1031 exchange using the amount that is gain, but we don't use the en… read more
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Hi Megan; In a 1031 exchange, in order to defer any gain that
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Hi, I hope you can help me with this. I bought "Property A",
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I am selling a rental property in NYC for 200,000. I bought
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Im selling some retail rental property to settle a divorce.
I'm selling some retail rental property to settle a divorce. The sale price is $750,000.00. I'm giving my ex $320.000.00 and paying the bank $300,000. That leaves $130,000.00. Can I use the 1031 in ki… read more
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R. Klein, EA
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We purchased a warehouse condominium 2 1/2 years ago ...
We purchased a warehouse condominium 2 1/2 years ago for $460,000 and then invested roughly $80,000 in improvements. Last year we had to pull $225,000 for our business. We are now selling the units an… read more
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In Aug 2005, I sold some land for $165,000- original ...
In Aug 2005, I sold some land for $165,000- original purchase price was $100,000. Is it true that I have 2 years from date of sale to reinvest that money? Also, if this is true, what options do I have… read more
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