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re: Anybody have rental property at Gulf Shores / Orange Beach?
Posted on 8/10/15 at 2:39 pm to tirebiter
Posted on 8/10/15 at 2:39 pm to tirebiter
quote:
I am assuming you are speaking of depreciation recapture, couldn't he use a 1031 exchange since the property was not held for personal use?
He could have... he has three other rental properties and he is trying to move out of owning real estate for investment. He's getting older and is afraid of a future crash in values. He was not interested in purchasing another investment property.
quote:
I wish small scale rental RE owners could be exempted from mandatory depreciation, or at least be able to opt in or out
Sure, I would not have a problem with that as an option. Especially since the value of the suspended losses goes down over time.
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