Once you are in the OZ, the tax treatment seems to be really close to having money invested in a Roth IRA. Is that correct ? What happens at the death of the owner before the 10 year hold period? And after the 10 year hold period ?
@@barbarakieras7419@barbarakieras7419 Some strategies discussed in this video can be applied to personal residences, primarily installment sales (seller financing). However, when a residence is sold, if you meet certain requirements, the primary one is living in the property for 2/5 of the last recent years, you can exclude up to $250k of capital gains from tax if single and up to $500k if married.
@@TheRealEstateCPAhello If I use the Lazy 1031, when I sell my investment property in CA, do I still need to withhold CA FTB taxes of approx 3.33% at closing of escrow, even though I am scheduled to use 90% of that property proceeds into a new built investment property
Hello I read online that if you bought your home Prior to Jan 01, 2009 none of this being in the home 2 of 5 years apply to you. For example if I bought my house in 1999 (which I did), and lived in it for 7 years t hen rented it out , (still rented today), none of this should apply to me and im grandfathered in and can keep any profits I make...is this true? How do you interpret this rule?
Are you talking about CGT for the US or UK? Unless it works for both countries?
Once you are in the OZ, the tax treatment seems to be really close to having money invested in a Roth IRA. Is that correct ? What happens at the death of the owner before the 10 year hold period? And after the 10 year hold period ?
I own two rental properties. Can I sell one and use the profit to pay off the other in order to avoid capital gains?
Absolutely pathetic after a month no answer from such a straight forward question.
😡
I do tax consulting for real estate investors and am truly impressed how you explain these complex topics.
Thank you!
Can this work for a home?
@@barbarakieras7419@barbarakieras7419 Some strategies discussed in this video can be applied to personal residences, primarily installment sales (seller financing).
However, when a residence is sold, if you meet certain requirements, the primary one is living in the property for 2/5 of the last recent years, you can exclude up to $250k of capital gains from tax if single and up to $500k if married.
@@TheRealEstateCPAhello If I use the Lazy 1031, when I sell my investment property in CA, do I still need to withhold CA FTB taxes of approx 3.33% at closing of escrow, even though I am scheduled to use 90% of that property proceeds into a new built investment property
Hello I read online that if you bought your home Prior to Jan 01, 2009 none of this being in the home 2 of 5 years apply to you. For example if I bought my house in 1999 (which I did), and lived in it for 7 years t hen rented it out , (still rented today), none of this should apply to me and im grandfathered in and can keep any profits I make...is this true? How do you interpret this rule?