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Second opinion] I bought my first home in Maryland in 2005.
Second opinion] I bought my first home in Maryland in 2005. I lived in the home until June 2013. And from June 2013 to now I am renting the property. It's a town house style condo. I mainly chose to r… read more
Lane
Lane
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Doctoral Degree
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I have a house that my sister and I own together. We are
I have a house that my sister and I own together. We are selling it and I was wondering is there a way a can defer my capital Gains. The house was never a rental my mom lived in it. Thank you … read more
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We have a client that did a 1031 exchange and not sure of
Hi, we have a client that did a 1031 exchange and not sure of how to deal with the journal entries. … read more
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For and short-term capital gains of commercial real estate.
For long and short-term capital gains of commercial real estate. A corporation holds three of the two properties for sale. Can you sell on two of the three and do a 1031 tax-deferred exchange and hold… read more
Chad EA, CDFA®, CFP®
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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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I am trying to record a 1031 Exchange. the original property
Hi, I am trying to record a 1031 Exchange. the original property sold for $500,000. Only $300,000. is being used for the 1031 exchange. New property purchased was for $250,000. I have Gain on Sales of… read more
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I recently sold a property and did a 1031 exchange and purchased
I recently sold a property and did a 1031 exchange and purchased another property. We had some major business changes and we are needing to sell the property that we just purchased. I spoke with a 103… read more
Robin D.
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I sold a apartment building for approximately 2.3 million
i sold a apartment building for approximately 2.3 million dollars. I netted after expenses 2.1 million. I took 650k and purchased another rental (1031 like kind exchange) My questions are as follows: … read more
Lane
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HAVE A S CORPORATION THAT SOLD A APARTMENT BUILDING IN NYC
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Tax-Scholar
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TAX question: Lets say you buy an investment property for
TAX question: Let's say you buy an investment property for $1M, $500k of which is from the sale of a previous investment property pursuant to a 1031 exchange. Then let's say you sell that property for… read more
Lev
Lev
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Did a 1031 exchange in 2005 with a gain. sold the property
Did a 1031 exchange in 2005 with a gain did file a 8824 reporting the gain. sold the property in 2011 at a loss. ( Did purchase a new property in 2011, but not as part of the 1031.) Is a 8824 required… read more
R. Klein, EA
R. Klein, EA
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Hello, I have some questions about 1031 exchange. I just sold
Hello, I have some questions about 1031 exchange. I just sold my investment property and I want to purchase a co-op which is also for investment purpose. I was told that I will be qualify for 1031 exc… read more
Lev
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I bought 1/2 of a ranch for 200k with my business partner [total
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I have a question about Like Kind Exchange 1031. I sold a
I have a question about Like Kind Exchange 1031. I sold a convience store in May 2009. I have started on building a car wash on a property that i had bought 2 years ago. The cost of car wash would be … read more
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We bought a single family house in San Diego, California, back
We bought a single family house in San Diego, California, back in 1972 as a primary residence, for about $34,000. Moved to Texas in 1981 and rented out this house, and never moved back in. Then in 200… read more
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I have a house in Virginia it is worth about $150,000 and I
I have a house in Virginia it is worth about $150,000 and I owe $54,000 on it. I also have a house in Florida I owe $130,000 on it and it is worth about $100,000. If I sell my house in Va. and down pa… read more
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Last year I did a proper 1031 exchange, but it has proved to
Last year I did a proper 1031 exchange, but it has proved to be a poor investment. Can I do another exchange with this property in this short a time? If not and I sell outright how is the tax determin… read more
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Just sold my home in the UK, which wasnt deemed as my primary
Just sold my home in the UK, which wasnt deemed as my primary residence here in the US. I havent lived there for 3 of last 5 years. Therefore I have to pay capital gains on the profit. If I reinvest t… read more
Lev
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