Still tax benefits?
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Still tax benefits? (by Dee Ann [WI]) Feb 27, 2021 2:01 AM
       Still tax benefits? (by WMH [NC]) Feb 27, 2021 7:43 AM
       Still tax benefits? (by WMH [NC]) Feb 27, 2021 7:57 AM
       Still tax benefits? (by Ray-N-Pa [PA]) Feb 27, 2021 11:18 AM
       Still tax benefits? (by plenty [MO]) Feb 28, 2021 9:29 AM

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Still tax benefits? (by Dee Ann [WI]) Posted on: Feb 27, 2021 2:01 AM
Message:

First week of DH's retirement...day 1: I think I made a mistake to day 4, I want no responsibility...let's get rid of the duplexes! Sell one, move the another, sell after a couple years...

Is there still a tax benefit (Capital Gains tax or?) on the books if you live in both units of a duplex over a five year period? Then if you move and stay in one unit for two years?

Can you still roll over your primary residence to another primary residence and defer capital gains tax?

--185.209.xxx.xx




Still tax benefits? (by WMH [NC]) Posted on: Feb 27, 2021 7:43 AM
Message:

That law changed a while back. The amount of time it was a rental factors in now, not just the amount of time you live in it. --50.82.xxx.xxx




Still tax benefits? (by WMH [NC]) Posted on: Feb 27, 2021 7:57 AM
Message:

Here's an article about the whole thing. Confusing.

h t t p s://www.merriman.com/wealth-preservation/planning-on-moving-back-into-your-rental-in-the-future-read-this-first/ --50.82.xxx.xxx




Still tax benefits? (by Ray-N-Pa [PA]) Posted on: Feb 27, 2021 11:18 AM
Message:

In the case of a duplex, yes you can combine a 1031 and 121 exchanges, providing that is your primary home two of the last 5 years --24.154.xx.x




Still tax benefits? (by plenty [MO]) Posted on: Feb 28, 2021 9:29 AM
Message:

Delay. Delay. Next week will bring new thoughts. Encouge him to Take time to adjust and relax... plan a vacation. Take some space. --172.56.xx.x



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