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1031 exchange of commercial property 1. Taxpayer has a
1031 exchange of commercial property1. Taxpayer has a resident rental. 2. Taxpayer also has a S Corp that he is 100% owner. 3. S-corp rents commercial space.Q1 - Can taxpayer do a 1031 to exchange his… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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I am trying to sell a commercial building I have owned for
I am trying to sell a commercial building I have owned for 50 years that has undergone many renovations and major rehabilitation. The market value today is much greater than the time of purchase. I pl… read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
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I just received a piece of land from family that will leave
I just received a piece of land from family that will leave me with 500k in long term capital gains. I am trying to minimize this and reading about unlimited spouse gifts. Seems to simple but my quest… read more
Barbara
Barbara
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I have a real estate tax related question. I need to have
I have a real estate tax related question. I need to have real estate for deductions due to s corp. I am selling a house and need to roll proceeds into a new house purchase (how much time do i have to… read more
James Daloisio
James Daloisio
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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®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I talked with you several years ago about some commercial
Hi Roger, I talked with you several years ago about some commercial property that the Department of Transportation damaged / acquired via eminent domain. I received conditional zoning to use the remai… read more
taxmanrog
taxmanrog
Master's Degree
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Can My brother sell a property to (me and my sister) for one
Can My brother sell a property to (me and my sister) for one dollar? The property is in Mass., in a trust with Allen as sole trustee, and his 2 sons as beneficiaries. Am I correct that the tax liabili… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I need someone who has experience with Estate Taxes/Trust Taxes
I need someone who has experience with Estate Taxes/Trust Taxes and Sale of Residence capital gains taxation. My father is selling his home that he inherited in 1965. I believe it is a part of his tru… read more
Lev
Lev
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Bachelor's Degree Equivalent
41,360 satisfied customers
If I sell a rental real estate property (condo) for a net profit,
If I sell a rental real estate property (condo) for a net profit, then buy another real estate property (single family house) in a few weeks as a 1031 exchange, rent this new property out to somebody … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,360 satisfied customers
If $100K is used to buy a $400K property via 1031 exchange,
If $100K is used to buy a $400K property via 1031 exchange, and the value of the property has remained at $400K, with about $300K left on the mortgage, then what would the taxes be (generally speaking… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,360 satisfied customers
I own a commercial property that was formerly our real estate
I own a commercial property that was formerly our real estate office. We moved to a larger location where we rent. In the interim, a buyer has come forward who would like to purchase our commercial pr… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,761 satisfied customers
Hi out there, do the improvements made to a commercial bldg
Hi out there, do the improvements made to a commercial bldg count towards any capitol gain or loss when sold?… read more
Merlo
Merlo
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My wife sold some ground and put it into a 1031 exchange. All
My wife sold some ground and put it into a 1031 exchange. All the money from the property was put into the exchange , but $400.000 was left unused. This property was earning income from and my wife wa… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
My father in law is selling an investment property in Hawaii
My father in law is selling an investment property in Hawaii for $1,150,000. He wants to use a 1031 exchange and purchase our house in Walnut Creek. I'm guessing the fair market value on our house is … read more
Merlo
Merlo
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My parents own a property that they want to sell. They bought
My parents own a property that they want to sell. They bought the place in 1988 for $200k.. They can sell it for $1.1 million , property is free of any liens.. Parents are divorced age are 62 and 58 .… read more
Merlo
Merlo
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558 satisfied customers
I have a farm that I bought for 135,000.00. It has a house ...
I have a farm that I bought for 135,000.00. It has a house and outbuildings and its 40 acres. I am selling 20 acres of this farm for 104,000.00. I also am buying a commercial building on contract that… read more
RD
RD
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Master's Degree
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what capital gains have to be paid on a vacant lot in new york
My parents own a vacant lot in New York and want to sell. If they sell this lot which was purchased in the early eighties and was residential motel @ the time. (it burned down over 15 yrs ago. They pa… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,360 satisfied customers
I am going to be sellin 2.5 acres of land in Las Vegas, ...
I am going to be sellin 2.5 acres of land in Las Vegas, Nevada. What do I do for due dillegnece?… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
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