Insights
Double Your Tax Savings with Home Sale Gain Exclusion Plus Like-Kind Exchange
Vasquez + Company LLP News Brief
Authored by Regina Prince
Selling a highly appreciated principal residence could trigger a large gain. While some of the gain may be sheltered with the home sale gain exclusion, the rest could result in a sizable income tax bill. To avoid this negative tax outcome, you could convert the home into a rental property and eventually execute a tax-deferred Section 1031 like-kind exchange. Here's how this double play strategy works.
Read the full news brief here.
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