![]() | |
![]() | |
![]() |
Real Estate Information |
|
![]() |
Tax Free Exchanges: Watch out for the New Residence Rules
On October 22, 2004, President Bush signed tax legislation that contained a provision affecting Internal Revenue Code section 1031 (the like-kind tax-free exchange rules). Under this new provision a taxpayer who exchanges under Internal Revenue Code section 1031 into a rental house as a replacement property for a previous investor property and later converts it to his or her primary residence, is not allowed to exclude gain under the principal residence exclusion rules of Internal Revenue Code section 121, unless he/she sells the property at least five years from the date of its acquisition. The results of this additional requirement to Internal Revenue Code section 121 is that anyone exchanging into a rental property that they such subsequently convert to personal use will have to wait at least five years from the date of acquisition before they can sell it as their residence and exclude any gain under Internal Revenue Code section 121. The change to the home seller rules of Internal Revenue Code section 121 became effective for principal residence sales occurring on or after October 22, 2004. Any taxpayer who previously acquired their current residence through a tax-deferred exchange within the past three years will now have to wait at least another two years before selling their home and excluding any gain, provided they meet the two out of the five-year occupancy test for living in the property. New legislation created in 1997/1998 allows taxpayers to exclude capital gains tax on their profits from the sale of their principal residence up to $250,000 for single taxpayers and up to $500,000 for married taxpayers provided they have lived in their principal residence for two out of the past five years. Taxpayers can exclude this gain any number of times provided they have met the two out of the five-year occupancy test. Good luck and until next time, Phil Craig P.S. Feel free to forward this on to any friends. Phil Craig is a licensed attorney and entreprenuer.He started practicing law at age 25 in 1979. He does not take on any more clients, but isadvisor to some of the biggest names in the internetworld. He shares his knowledge gained over thelast 25 years at his Living Trust Secrets newsletter site:click here=========>http://www.LivingTrustSecrets.com ** Attn Ezine editors / Site owners **Feel free to reprint this article in its entiretyin your ezine or on your site so long as you leaveall links in place, do not modify the content andinclude our resource box as listed above. If you do use the material please send us a noteso we can take a look. Thanks.
MORE RESOURCES: Real estate inquiries by wealthy New Yorkers into Florida properties jump 50% after Mamdani primary win Fox Business Residential real estate developers cut jobs as downturn deepens The Globe and Mail Real estate CEO warns of growing ‘exodus’ as people have ‘given up’ on California — but where are they going? Yahoo Finance Compass to share exclusives — if brokers, MLSs play by 2 rules Real Estate News by RealEstateNews.com Russian Demand for U.S. Real Estate Surges 78.5% The Moscow Times Providence Hill Real Estate owners buy office building near Tuckahoe HQ Richmond BizSense What renters really want | Real Estate Newsletter Inquirer.com Nantucket’s Workers Are Living on the Margins The New York Times OT Real Estate Spotlight of the Week: 1555 Graves Lane The Owensboro Times Property transfers: Marion County sales range from $20K to $390K The Marion Star Here are businesses on the move in Marin, Solano, Napa, Sonoma and Mendocino counties The North Bay Business Journal Despite signs of market rebalancing, real estate in this NJ town remains hot. Here's why Bergen Record Real estate sales in Peoria, Tazewell and Woodford counties for July 12, 2025 Peoria Journal Star $1.225 million Symmes Township home sale among the week's top property transfers Cincinnati Enquirer Homes in Lubbock County sold for higher prices recently: See how much here Lubbock Avalanche-Journal Homes in Cumberland County sold for higher prices recently: See how much here The Fayetteville Observer A Look At Plymouth Co Real Estate Numbers WATD 95.9 FM NYC Real-Estate Execs Throw Money Behind Adams to Counter Rise of Mamdani The Wall Street Journal Real Estate Transactions sungazette.com Berkshire region real estate sales – July 11, 2025 The Berkshire Edge Berkshire County Real Estate Transactions for June 23-27 The Berkshire Eagle TIM SCOTT REAL ESTATE - 83275 Caledonian Record Business Spotlight: Trujillo Commercial Real Estate Group The Paso Robles Press Agent-built AI chatbot serves up real advice with a sense of humor Real Estate News by RealEstateNews.com Westmoreland County Real Estate Transfers The Latrobe Bulletin A tale of two Floridas: Real estate industry torn over DeSantis' push to eliminate property taxes Fox Business Property transfers: June sales range from $11K to $5.8M in Crawford County - Bucyrus Telegraph-Forum Property transfers: June sales range from $11K to $5.8M in Crawford County Bucyrus Telegraph-Forum LOCAL REAL ESTATE TODAY 7.11.25 KQEN News Radio Real estate investors are purchasing more U.S. homes as high prices lock out would-be buyers CBS News Don Fenley: Tri-Cities housing market sees uptick in June Kingsport Times News Florida real estate: See the most expensive home sales across the Treasure Coast in June Treasure Coast News Tampa real estate investment firm under investigation for potential deceptive practices Florida Politics Weekly building permits, real estate Boca Beacon Homes for Sale in Manhattan and Brooklyn The New York Times RLTY: Reasonable Real Estate Income For Now (NYSE:RLTY) Seeking Alpha Department of Taxation and Finance dos.ny.gov Dawson County weekly real estate transactions, July 11 Central Nebraska Today EG Real Estate: 8 New Listings & 5 Sold East Greenwich News 2025-2030 Five-Year Housing Market Predictions U.S. News Real Estate How a legal battle of real estate titans affects home buyers Straight Arrow News SDCERS to lift infrastructure allocation as it trims real estate IPE Real Assets Mortgage Rates Today: The States Offering Lowest Rates – July 11, 2025 noradarealestate.com NEO's industrial real estate market loosens slightly but remains tight Crain's Cleveland Business Jackson State To Offer Real Estate Course Radio NWTN Queens real estate trends: What buyers are looking for, according to Compass agent Thomas Caramanno Queens Post Patrick Cadle joins Grist Real Estate Mountain Messenger Real estate news: 18-unit apartment complex in Surf City fetches $7.4 million Orange County Register Michael Guthrie discusses real estate uncertainty amid Charlottesville zoning freeze Cville Right Now The Seyon Group Acquires Industrial Portfolio in North Andover for $12.5 Million Boston Real Estate Times New Hampshire housing market sees 65 straight months of growth The Laconia Daily Sun Real estate boss targeted in San Francisco with smear campaign The San Francisco Standard Confusing housing stats & real estate nerds Sacramento Appraisal Blog Hawaii residential real estate experts on negotiating and marketing homes in 2025 The Business Journals Navigating Trump's Tax Megabill: Winners and Strategies in Real Estate, Manufacturing, and Energy AInvest Developer, neighbors worked together to decide how a key corner of Austin will look The Business Journals Real estate feels weird right now — but not broken Rome Sentinel Where are home prices falling most in America? This SWFL community made top of the list Naples Daily News |
![]() |
![]() |
![]() |
RELATED ARTICLES
How to increase the Saleable Value of your Home When selling your home, you'll want to fetch the best price possible for your home yet it so happens in many cases, that buyers give offers that just don't meet your expectations. Of course, you will have to negotiate but you still may not end up getting how much you want. Investing In Real Estate Investors With the never-ending changes in our Real Estate Markets real estate professionals are starting to pay attention to the sound of new commission streams of income. Some realtors have either shied away or ran-away from such terms as "Cap Rate," & "Cash-on-Cash Returns. Home Inspectors: 5 Tips to Choosing the Right One Choosing the wrong Home Inspector can cost you a lot more than the fee you paid. If you choose a home inspector solely on price alone, your headed down a dangerous highway. Property Investing Secrets 7 Property Investing Secrets:How Buying Real Estate Is Like Planning a Trip to the Greek IslandsOne you start property investing, one important tip is to press the flesh with the real estate agents in the areas where you plan to buy. Because property investing is a bit like buying a holiday package, you must separate yourself from the rest of the investors by giving the real estate agents the information they are looking for in your first face to face meeting. Real Estate Internet Marketing Is The Way To Go Real estate Internet marketing is a booming business, along with all other forms of Internet businesses. Now, it seems that very little can't be sold over the Internet. Want To Be Profitable In This Real Estate Bubble? I'll Show You How In Just Three Easy Steps STEP#1. First you have to recognize that in order to make money in almost any market (i. Boston Real Estate - Interest Rates and Inventory Must be Analyzed when Selling Your Boston Home When selling your Boston home, it's good practice to be aware of what similar homes in your neighborhood have recently sold for. Recent comparable sales are not only what a good Boston real estate agent should use for guidance when pricing your home, but also what a bank appraiser will use if and when your buyer applies for a mortgage to buy your home. Choosing a Residential Lot Finding a lotPlanning for your new home is a very involved process. You might want to get right down to selecting a set of house plans but don't get into a hurry. How To Get The Best Rental Accommodation In The Area By Using Your Capital My report is for you to use your power to negotiate, not only a reduced weekly cost of accommodation, but also to get the best accommodation available in the area in which you wish to live.Hello Colm Dillon here . The 5 Biggest Mistakes Made When Getting A Business Appraised Most business owners will, at some point, want or need to know how much their business is worth. They will be faced with the task of finding someone to perform a business appraisal or valuation. Property Investing Secrets 3 Property Investing Secrets: When you Make Property Easy to Buy for People Using Vendor Finance It Is Easy To SellWhen property investing, my goal is to make it easy for people to buy my properties, that's why I offer vendor finance. You have the advantage when you buy properties from sellers when property investing. As a Realtor, How Do I Attract Listings? Have you ever noticed that despite the massive number of Realtors in your area, only a hand full are making a fortune selling real estate? Regardless of who these realtors work for; GMAC, Century 21, REMax, they are extremely successful where others in their office are barely scraping by. What is the secret to their success? First and foremost, it is their approach to marketing themselves and their customers. Sell Houses Fast & Top Dollar: Design Psychology How would you like to start a bidding war for your home, ending with a sales price greater than the asking price -- all within your home's first three hours on the market? That's the kind of results you can expect when you prepare your home for marketing, using Design Psychology methods! Design Psychology's innovative interior design strategies go well beyond normal cleaning, painting, and repairs, and have been proven to increase homeowner profit while shortening a home's market time. And best of all, you don't have to spend a lot of money to enjoy the benefits Design Psychology can provide! Here are a few tips for maximizing your sales price, while minimizing the out-of-pocket cost of selling your home: First, you must emotionally detach yourself from your home and begin to think of it as simply a piece of property that needs to be sold. A Powerful Suggested Technique for YOUR Home & Property Search A Powerful Suggested Technique for YOUR Home & Property Search by Jody Hudson You can be a pro at buying a home: Whether you are buying your first home or you are an experienced home buyer who owns more than one home, there are some things that can help you get faster results and get more professional and pleasant help from your Realtor. A home or property purchase is one of the most important and exciting events to experience. How Can the Average Person Build Wealth in Real Estate? Books on real estate are a dime a dozen-and most focus on taking advantage of someone else's misfortune. They frequently describe lofty methods for buying and selling properties no ordinary citizen can be successful using. Real Estate Remains A Strong Investment Opportunities to make big, quick profits in residential real estate tend to come and go in cycles. When a local market is hot, families may find it possible to buy a house at an attractive price, fix it up, and watch its value rise in just a few years. Residential Property Abroad It is increasingly common for individuals to own more than one property and in many cases the first investment after the family residence is in a holiday home. Whether you are buying a place in the sun, a country retreat or a city centre apartment, if it is in a foreign country you will be exposed to an unfamiliar legal system and to taxes in the country concerned. 5 Hot Tips for Successful Real Estate Investment The last downturn of the global stock market saw millions of 'every day' investors having their fingers badly burned. Overnight life savings were eaten away, retirement funds went into decline and the economic forecast for all of us who had any money invested in stocks and shares was gloomy to say the very least. Home Buying: Things To Keep In Mind So you've decided you want to own a home and now you want to begin your search for one. Before jumping into a home search, there are a few things you should keep in mind when going about buying a home. Real Estate Investing: Sales and Negotiation Skills are Critical Do you want to build wealth through real estate? You need expertise in two critical areas: specific investment strategies and sales and negotiation skills. But if knowing how to identify good deals is what's really important about investing in real estate, why do investors need to worry about their sales and negotiation skills?"Knowing how to identify good deals is certainly a critical part of real estate investing, but it's not the only part," says Russ Whitney, internationally recognized real estate expert and bestselling author of Millionaire Real Estate Mentor (Dearborn Trade Publishing). ![]() |
home | site map |
© 2006 TIGER MEDIA |