Section 1031 Real Estate and Personal Property Exchanges
Posted in Uncategorized on Mar 22nd, 2010
Purchasing a multi-family home is a great way to acquire a starter home and have the added benefit of receiving rental income to help out with the mortgage payment, taxes and maintenance. If the goal is to live in the property just long enough to build some equity and ownership experience, then you will face [...]
Posted in Newbridge Exchange, Relinquished Property Options on Nov 2nd, 2009
The Internal Revenue Code provides a variety of tax saving opportunities for savvy planners. For example, Section 1031 of the Code details tax deferred exchanges. Section 121 provides direction on the sale of a personal residence and the allowances for exclusion from tax. Guidance on how these two sections intersect and complement each other is [...]
Posted in Newbridge Exchange, Relinquished Property Options on Sep 21st, 2009
There are two types of real estate that can be sold with advantageous tax treatment, your primary residence and your business/investment property. Favorable treatment exists for the sale of a personal residence if the property has been the primary residence of the taxpayer for two of the preceding five years. Section 121 of the Internal [...]
