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I sold a rental property back in 1999 and do not recall
I sold a rental property back in 1999 and do not recall filing an 8824 it was a like kind exchange we then bought another apartment and cold it again in 2014 … read more
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I sold a second home/Condo in 2017 and then purchase another
I sold a second home/Condo in 2017 and then purchase another condo of higher value in 2017, do I need to pay taxes on profit. … read more
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Chad EA, CDFA®, CFP®
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Lane, I was wondering if you could walk me thru form 8949
Good Morning Lane, I was wondering if you could walk me thru form 8949 re: my sale of a duplex which is 1/2 personal residence and 1/2 to be a deferred exchange in which is a buy down in 2018 and I wi… read more
Lane
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Doctoral Degree
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Lane....is it possible for you to walk me thru a form 8949
Good Morning Lane....is it possible for you to walk me thru a form 8949 regarding a dplex I sold in 2017...1/2 personal residence....1/2 rental which will be deferred1031 exchange...no mortages...cash… read more
Lane
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I am still unsure about the answer to my first question as
I am still unsure about the answer to my first question as the instructions say that one should report the exchange in the tax year in which it occurred.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,980 satisfied customers
I sold a duplex in 2017...one half was my primary residence
I sold a duplex in 2017...one half was my primary residence and one half was rental...I qualify for one half as the sale of my personal residence and am able to use the exemption..the other half I use… read more
Lane
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Doctoral Degree
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I bought a 4 family home with my ex husband in 2005. I'm on
I bought a 4 family home with my ex husband in 2005. I'm on the deed but not the mortgage. After divorce my ex husband racked up massive credit debt and wanted to declare bankruptcy . In exchange I co… read more
Dr. Fiona Chen
Dr. Fiona Chen
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We sold and purchased real estate in 2016. We didn't realize
We sold and purchased real estate in 2016. We didn't realize that there is a IRS form you have to file at the time. Since we reinvested in real estate is there a way we can go back and not have to cla… read more
Robin D.
Robin D.
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I'm in the process of selling one of three properties in an
I'm in the process of selling one of three properties in an LLC and they'll be about $15-$30,000 profit in the sale I'm wondering I want to use that money to pay down other company debt either from th… read more
emc011075
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I live in Maryland and I am 64 years old. I own a farm in
I live in Maryland and I am 64 years old. I own a farm in Nebraska and am selling it in February of next year. the capital gains will be about 300 to 450 thousand dollars. I am still working and my in… read more
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A client of mine sold a hotel. After that he kept the deed
A client of mine sold a hotel. After that he kept the deed for one day and transferred the deed to a new corporation in which he is buying a new hotel. Can he do a 1031 in the old corporation and file… read more
PDtax
PDtax
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Questions on a 1031 - exchange Do we need to have an QI
questions on a 1031 - exchange Do we need to have an QI always ? what are the paper work i am suppose to keep just in case the IRS comes back with an Audit. Do we prapare the return and send it waitin… read more
Lane
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JD, MBA, CFP, CRPS
Doctoral Degree
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I sold a house 50 % Business Use & 50% personal use, ( two
I sold a house 50 % Business Use & 50% personal use, ( two family house) I bought the house on 2001 for 300 sold for 700, during the 45 days Y bought two property one 2 family rental property 100% bus… read more
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Lev
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I bought a rental house using a 1031 exchange in 2002, which
I bought a rental house using a 1031 exchange in 2002, which became the acquired property. The relinquished property had a deferred capital gain of $54,000. I have recently (2014) sold the rental hous… read more
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Doctoral Degree
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I own a rental property with a basis of 50,000. I have a chance
I own a rental property with a basis of 50,000. I have a chance to sell it for 270,000. There is an apartment house I want to buy for 360,000. I want to defer the profit from the rental sale. Can I do… read more
Megan C
Megan C
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Master's Degree
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Question 1 I have owned a rental home (in Georgia) for a number
Question 1: I have owned a rental home (in Georgia) for a number of years which has provided me with good income. However, I want to sell the rental home as the neighborhood is "not what it use to be"… read more
CGCPA
CGCPA
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Bachelor's Degree
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If I sold an investment property under a 1031 tax exchange
If I sold an investment property under a 1031 tax exchange and purchased two additonal properities with the proceeds how do I allocated the capital gains and what is the basis in the new properities f… read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
I did a 1031 exchange selling my property in December 2006 ...
I did a 1031 exchange selling my property in December 2006 and buying a new property May ( i satisified all the requirements of identifying the new property within 45 days and closing within the presc… read more
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