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re: Can I avoid capital gains on the sale of my rental property?
Posted on 8/2/21 at 11:18 pm to Seaux_cal_tiger
Posted on 8/2/21 at 11:18 pm to Seaux_cal_tiger
I am in process of this now. Sold a 9th ward duplex for a nice profit, put it in a 1031 intermediary, and my replacement property will be an investment in 200 acres of MS Timberland. I won't have issues if I hold it for investment, even if I hunt on it a little.
There are rules on personal use. If you do the 1031 exchange for a property that you rent for about a year, you could possibly move there afterwards. It gets tricky when you convert to personal use. If you pay the taxes, you could save the proceeds and buy a primary residence later.
There are rules on personal use. If you do the 1031 exchange for a property that you rent for about a year, you could possibly move there afterwards. It gets tricky when you convert to personal use. If you pay the taxes, you could save the proceeds and buy a primary residence later.
2
Posted on 8/2/21 at 11:39 pm to dat yat
You’re still on the hook for depreciation recapture correct?
Posted on 8/3/21 at 10:32 am to dat yat
Duplex to land? I thought there was some like kind rule
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