Understanding Real Estate Taxes

How to Reduce Capital Gains Tax on Your Primary Residence Qualified homeowners can exclude from their taxable income up to $500,000 in capital gains using IRS Section 121 Exclusion. Qualifying for the Exclusion: Your home must be used as a primary residence for at least 24 months out of the last 60 months before you sell it (two out of … Read More

1031 Exchanges: The What, Why, When, & How

Real estate investors trying to defer taxes may want to explore like-kind exchanges. What exactly is a 1031 exchange? For some real estate investors, it may be a nice answer to a dilemma involving an income property. A properly executed 1031 exchange lets an investor sell one property and buy a similar one while deferring capital gains taxes. Also called … Read More