4 results for tag: Residential Real Estate
Section 1031: Don’t Miss This Depreciation Election
As you likely remember, the Section 1031 exchange allows you to sell a piece of appreciated real estate and defer all the taxes as long as you invest the entire proceeds in like-kind property.
And then consider this: a cost segregation study allows you to separate qualifying real estate into separate components with shorter depreciable lives that speed up deductions and in many cases create immediate write-offs.
Can you (a) defer a large gain via Section 1031 and (b) immediately create a large write-off on the new asset with a cost segregation study?
You can, but you have to make sure you donʼt miss this one important step.
1031 Exchange ...
Refresher: Principal Residence Gain Exclusion Break (Part 3 of 3)
Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
With residential real estate markets sizzling, significant unrealized gains are piling up for many homeowners. That’s good news if you’re ready to sell, but what about the tax implications? Good question.
Thankfully, the federal income tax gain exclusion break for principal residence sales is still on the books, and it’s a potentially big deal for prospective sellers.
If you’re unmarried, the exclusion can shelter up to $250,000 of home sale gain. If you’re married, it can shelter up to $500,000. That helps!...
Refresher: Principal Residence Gain Exclusion Break (Part 2 of 3)
Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
With residential real estate markets surging, significant unrealized gains are piling up for many homeowners. That’s good news if you’re ready to sell, but what about the tax implications?
Thankfully, the federal income tax gain exclusion break for principal residence sales is still on the books, and it's potentially a big deal for prospective sellers.
If you’re unmarried, the exclusion can shelter up to $250,000 of home sale gain. If you’re married, it can shelter up to $500,000.
This is Part 2 of our ...
Refresher: Principal Residence Gain Exclusion Break (Part 1 of 3)
Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
With residential real estate markets surging, significant unrealized gains are piling up for many homeowners. This is good news especially if you’re ready to sell, but what about the tax implications?
Thankfully, the federal income tax gain exclusion break for principal residence sales is still on the books, and it’s a potentially big deal for prospective sellers. If you’re unmarried, the exclusion can shelter up to $250,000 of home sale gain. If you’re married, it can shelter up to $500,000.
Understanding ...