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Re: Depreciation recapture

[quote user="GlenC"] I bought a rental property in 1979 at age 24 and did a 1031 exchange in 1991, which has been continuously rented. I am currently listing this property for sale and planning to do another 1031 exchange, renting the replacement property for two years and then converting it...

Posted to Real Estate Tax Issues (Forum) by Bill Exeter on 03-07-2010
Re: Clarification to changes to Section 121

[quote user="dcnkmnarn"] Mr. Exeter: thank you for taking time to reply! Your answer did help, not what I was hoping to hear, but helpful. If you wouldn't mind please allow me this one follow-up posting. You are most welcome. Where you said: You could move back into the property now so...

Posted to Real Estate Tax Issues (Forum) by Bill Exeter on 09-22-2009
Re: Clarification to changes to Section 121

[quote user="dcnkmnarn"] Mr. Exeter, or any other experts, please please help me with an answer. I've searched & searched the web for examples of changes to 121 Exclusion that would mirror my situation to guide me but no luck. Here's my situation: We had lived in a primary residence...

Posted to Real Estate Tax Issues (Forum) by Bill Exeter on 09-22-2009
Clarification to changes to Section 121

Mr. Exeter, or any other experts, please please help me with an answer. I've searched & searched the web for examples of changes to 121 Exclusion that would mirror my situation to guide me but no luck. Here's my situation: We had lived in a primary residence up thru December 2006 (house was...

Posted to Real Estate Tax Issues (Forum) by dcnkmnarn on 09-22-2009
Changes to Section 121 Exclusion - Is there a minimal time requirement for using the property as the primary residence?

Hello: I have just recently started looking for a 2nd home and just learned this new modification of 121 exclusion (on this website). My original plan was to purchase a 2nd home, rent it out for 3 years until my husband retires. Then we would move into it and change it to a primary resident, then sell...

Posted to Real Estate Tax Issues (Forum) by outabout on 01-05-2009
Re: Housing Bill Contains Changes to 121 Exclusion on Sale of Primary Residence

I have just recently started looking for a 2nd home and just learned this new modification of 121 exclusion. My original plan was to purchase a 2nd home, rent it out for 3 years until my husband retires. Then we would move into it and change it to a primary resident, then sell it 3-4 years after that...

Posted to Real Estate Tax Issues (Forum) by outabout on 01-05-2009
Tax Free Exclusion on Sale of Principal Residence (Home) Now Reduced If Property Held as Rental Property First

The Housing and Economic Recovery Act of 2008 contains certain aspects within it other than what the title of the act actually communicates. A provision contained within the Housing and Economic Recovery Act of 2008 modifies Section 121 of the Internal Revenue Code. We have posted a complete analysis...

Posted to Real Estate Tax Issues (Forum) by Bill Exeter on 08-11-2008
Housing Bill Contains Changes to 121 Exclusion on Sale of Primary Residence

121 Exclusion Reduced if Non-Qualified Use Capital gain from the sale or disposition of a homeowner's primary residence will no longer be excluded from the homeowner's taxable income under Section 121 of the Internal Revenue Code for periods of time that the residence was not used as the principal...

Posted to Real Estate Tax Issues (Forum) by Bill Exeter on 07-30-2008

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