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I bought a rental one year ago starting November. I want to
I bought a rental one year ago starting November. I want to sell it, as we need money. Eventually I could do a 1031 exchange to avoid paying taxes on profits, but how long do I have to do an exchange?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a few accountant related questions. I'm moving from
I'm moving from CA to MD and have tax implications related to the move… read more
Barbara
Barbara
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I bought an investment house with a partner 8 years ago, and
I bought an investment house with a partner 8 years ago, and now I plan to sell it by taking the 1031 exchange. But the partner only wanted to sell the house for capital gain and not go further with 1… read more
JeffS6413
JeffS6413
Principal/Advisor
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How does the 1031 exchange work? If I sell property in Tx
How does the 1031 exchange work? If I sell property in Tx worth of 450000 which was bought at 400000 with 120000 downpayment as an investment property. Should I buy worth of 450000 anywhere in US? Can… read more
Lev
Lev
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Bachelor's Degree Equivalent
57,726 satisfied customers
I have a question about selling a property in SC and I am
I have a question about selling a property in SC and I am currently a resident of north carolina. The property is being sold as part of a divorce agreement and I am wondering about federal taxable gai… read more
Barbara
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We have a real estate closing scheduled for tomorrow morning
Hi. We have a real estate closing scheduled for tomorrow morning selling our two-family investment property. My sister, my Mom (who we just moved into an assisted living facility for alzheimer's) my F… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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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
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,454 satisfied customers
I have real estate tax question. Can you help? We bought a
We bought a house in Florida we closed on January 28 2019 . If we sold our house in vegas in the next 6 months could we avoid capital gains by doing so??… read more
Barbara
Barbara
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I have a real estate question. We have a rental property we
I have a real estate question. We have a rental property we are selling and also just bought a business property the beginning of May. We borrowed money from a relative to buy the business property. W… read more
Lev
Lev
Tax Advising and Planing
Bachelor's Degree Equivalent
57,726 satisfied customers
My son moved away a year ago & now wants to buy a rental
My son moved away a year ago & now wants to buy a rental house I own. We have been renting my sister-in-law's house & I was going to apply for a loan to buy her house. I would also like to apply for a… read more
emc011075
emc011075
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Bachelor's Degree
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We are completing a 1031 exchange. The property we are
We are completing a 1031 exchange. The property we are exchanging is under contract and is supposed to close on March 31, 2017. Can we initiate sales and purchase agreements with replacement propertie… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,454 satisfied customers
I wanted to do a 1031 exchange on a 128,000 value condo that
I wanted to do a 1031 exchange on a 128,000 value condo that is currently a rental. I was wondering if I would be able to purchase a property that exceeds the 200% rule. I would be willing to put in m… read more
Mark Taylor
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I live in California, but own a rental property oin
Good morning I live in California, but own a rental property oin Maryland. I am now looking to sell it. what can I expect with Federal Tax laws and CA tax laws? … read more
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Mark Taylor
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A person is considering investing in vacation rental
a person is considering investing in vacation rental properties that have a management company run them, in the Orlando area as part of a 1031 exchange. is there a specific rate of return on these typ… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Question, JD, CFP, MBA A person is selling a rental property
question for Lane, JD, CFP, MBA A person is selling a rental property and wishes to due a partial 1031 exchange. Their basis equals 25% of the selling price, their carryover losses is another 25%, the… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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what IRS Code section applies to the trades of real property?
what IRS Code section applies to the trades of real property? What should I look out for specifically in trading a 100% rental house for a self-service coin coin operated car wash? Thanks, XXXXX XXXXX… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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We have a plane that we sold for 270,000.00. We have depreciated
We have a plane that we sold for 270,000.00. We have depreciated the plane to 60,000.00. This plane is in a S Corporation. Can you tell me what kind of taxes we are going to have to pay on this plane.… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,614 satisfied customers
My home has appreciated about $600k since I purchased it.
My home has appreciated about $600k since I purchased it. I'd like to sell in 3 yrs, but avoid/defer capital gains. How can I use my $250k homeowner's deduction as well as 1031 to do this? For example… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,614 satisfied customers
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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