Download Selling Real Estate without Paying Taxes (Selling Real by Richard T. Williamson PDF

By Richard T. Williamson

ISBN-10: 0585468710

ISBN-13: 9780585468716

ISBN-10: 0793167981

ISBN-13: 9780793167982

Via case reviews and genuine buyer transactions, promoting genuine property with no Paying Taxes discusses uncomplicated tax deferral equipment for brand spanking new estate traders, in addition to introducing a few unusual and complicated ideas that the professional actual property investor/agent won't have thought of. In promoting genuine property with no Paying Taxes, Richard T. Williamson breaks down the time period ""capital gain"" and offers a glance on the merits and drawbacks of every approach. Highlights of the publication contain the way to use the Starker 1031 trade, utilizing installment revenues to create a gentle flow of source of revenue, and tax-free making an investment with an funding Retirement Account (IRA).

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Sometimes, however, a taxpayer simply does not meet the two-year tests but has no choice but to move now. In those situations, which will be discussed below, the regulations may allow a partial or fractional portion of the exemption to be taken. EXCEPTIONS TO THE TWO-YEAR REQUIREMENTS Because the general rule requiring a taxpayer to have owned and lived in a home for two of the last five years is firm but not set in stone, exceptions to the rule do exist. Likewise, there are exceptions to the rule that you not take the primary residence exemption more than once in any two-year period.

According to their plan, at age 70 they could double the number of rental units again, but instead they intend to travel abroad during their retirement years. They are therefore planning to sell the properties at that time to create a lifetime stream of income from whatever equity they have created from the property investments. 48 SELLING REAL ESTATE WITHOUT PAYING TAXES This kind of planning is not hard to understand. What is hard is following through on the plan. If you can follow through with this type of plan, your ability to indefinitely defer capital gains through 1031 exchanges enables you to continue to build wealth tax free throughout your life.

Either you or your spouse meets the ownership test. c. Both you and your spouse meet the use test. d. During the two-year period ending on the date of sale, neither you nor your spouse excluded gain from the sale of another home. PROPERTY THAT QUALIFIES AS A PRIMARY RESIDENCE There are two tests to determine whether a property qualifies for the $250,000/$500,000 primary residence exemption. To be entitled to the exclusion you must have: 1. Owned the home for at least two years of the last five years.

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