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re: Where/How do you find the best deals on rental properties in Baton Rouge?
Posted on 3/16/16 at 9:14 pm to mtcheral
Posted on 3/16/16 at 9:14 pm to mtcheral
How do you avoid getting taxed to death when you sell a property? I was told you can take the profits and roll into another property, is this true?
2
Posted on 3/16/16 at 9:21 pm to joeytiger
Yes. My actual equity profit is minimal so it won't be much profit to be taxed there anyway. But I will be rolling over into another property within 6 months. Most of my profit is cash flow that's built up.
Posted on 3/16/16 at 9:29 pm to joeytiger
quote:
How do you avoid getting taxed to death when you sell a property? I was told you can take the profits and roll into another property, is this true?
You do a 1031 exchange, google it. Your personal residence you don't bc you're allowed $250k net tax free or $500k if you're married but investment properties you can 1031 them but you have a short window to do so.
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