Aug
29
Would a 1031 exchange allow me to trade a rental for a primary home? If I used the proceeds as my down pmt?
Filed Under Home :: Real Estate | 1 Comment
Aug
29
How does a 1031 exchange work?
Filed Under Home :: Real Estate | Comments Off
Ariana Z asked:
I have some money in a 401K and some other investments and I would like to purchase real estate and I heard that this might be a good way.
Jacob
I have some money in a 401K and some other investments and I would like to purchase real estate and I heard that this might be a good way.
Jacob
Aug
28
How is a 1031 exchange of residential property accted & reported to the IRS? sale, deprec., and improvements?
Filed Under Home :: Real Estate | 1 Comment
jrt asked:
The original property was sold at a gain, but I was advised that all proceeds had to be rolled iinto the exchange-what happens to gain, basis, improvements etc.?
Tiffany
The original property was sold at a gain, but I was advised that all proceeds had to be rolled iinto the exchange-what happens to gain, basis, improvements etc.?
Tiffany
Aug
27
cgarcia7879 asked:
Im a specialest in the 1031 exchange. I save people tons of money uncle sam would normally would take. California investers are the ones right now benifiting from this.
Rosemary
Im a specialest in the 1031 exchange. I save people tons of money uncle sam would normally would take. California investers are the ones right now benifiting from this.
Rosemary
Aug
24
Can you make a 1031 exchange FROM a rental to a RESIDENCE in California?
Filed Under Home :: Real Estate | 4 Comments
g g asked:
I rented my residence for seven years because I was living out of the country. Now I must move to another city. Can I live in the building purchased by the 1031 exchange, or must I rent it out?
Joy
I rented my residence for seven years because I was living out of the country. Now I must move to another city. Can I live in the building purchased by the 1031 exchange, or must I rent it out?
Joy
Aug
19
1031 Exchange - Can I take out a mortgage in my name on someone else’s property?
Filed Under Home :: Real Estate | 5 Comments
livepassive asked:
A relative is doing a 1031 exchange on an investment property into another investment property. It is a house I will be living in and will eventually get the entire property. My question is this: Can I take out a mortgage in my name, on a 1031 exchange property that is not in my name? If so, does it have to be an non-owner occupied loan?
Dale
A relative is doing a 1031 exchange on an investment property into another investment property. It is a house I will be living in and will eventually get the entire property. My question is this: Can I take out a mortgage in my name, on a 1031 exchange property that is not in my name? If so, does it have to be an non-owner occupied loan?
Dale
Aug
18
Is a 1031 exchange possible with a currently owned property?
Filed Under Home :: Real Estate | 3 Comments
Carl G asked:
Typical exchange 1031 involves the subsequent purchase of a property after a sale. My situation is a little different. I want to apply the gain on the sale of one investment property, against a mortgage balance on a second investment property which I currently own. Would that transaction be allowed as a 1031 exchange?
Victoria
Typical exchange 1031 involves the subsequent purchase of a property after a sale. My situation is a little different. I want to apply the gain on the sale of one investment property, against a mortgage balance on a second investment property which I currently own. Would that transaction be allowed as a 1031 exchange?
Victoria
Aug
11
1031 Exchange ?
Filed Under Home :: Real Estate | 2 Comments
Kevin K. asked:
If I own a home and want to rent it, how many years do i have to rent it to have a 1031 exchange for income property?
Jennifer
If I own a home and want to rent it, how many years do i have to rent it to have a 1031 exchange for income property?
Jennifer
Aug
10
1031 exchange how does it work?
Filed Under Home :: Real Estate | 2 Comments
Matt H asked:
I just bought a home in June for a great deal. I am thinking about selling and getting another home, however only living there for 5 months I would like to avoide cap gains tax. Can I do a 1031 exchange on new home?
I just bought a home in June for a great deal. I am thinking about selling and getting another home, however only living there for 5 months I would like to avoide cap gains tax. Can I do a 1031 exchange on new home?
If I live there for two years does that exclude me from tax?
Ronald
Aug
7
Jeff W asked:
I had to file an extension for taxes because I had to report a 1031 exchange that was still in the process…
I had to file an extension for taxes because I had to report a 1031 exchange that was still in the process…
Now I am trying to fill out form 8824, but it’s really confusing.
Any suggestions?
Keith