@socialcap: Here is how you could use both the #1031exchange and #stepupbasis to pass alomg millions of dollars in #realestate without paying one dime of #capitalgains #taxes #money #wealth #socialcap
To properly execute a 1031 exchange the proceeds must be held in escrow after selling property 1 until used to purchase property 2.
2024-06-19 20:53:27
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user5177247925572 :
Federal estate tax
2024-06-19 23:54:43
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user5417535520314 :
Stepped up basis applies to all appreciated assets (as long as not tax deferred like 401k or IRA). So samerule applies to a stock portfolio also.
2024-06-19 21:33:16
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utoometoo :
How did we get to 250 million ? Average home price is 450k.
2024-06-20 01:44:45
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user6215663319163 :
Investment property not second home correct?
2024-06-20 03:04:54
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Alex :
what if i have owned the investment property for more then 5 years?
2024-06-19 21:07:46
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Kathleen Hethcoat :
I was so lucky to find out about 1031 exchanges at the right time.
2024-06-19 20:36:54
8
Lon761 :
Wow that’s some cool advice
2024-06-19 21:12:06
6
Stuart McHenry :
I need to know how to reduce cap gains from sale of crypto assets. please give tips.
2024-06-20 03:40:05
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user2169605382617 :
Aren’t gains capped at 500k for a 1031 exchange?
2024-06-19 21:06:53
9
Oliviaholly :
I thought 1031 was up to one calendar year to purchase replacement property??
2024-06-19 21:28:11
4
I can hear them snoring :
love 1031
2024-06-19 21:15:59
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Chris Holmes :
1031 isn’t that easy so make sure you understand the rules
2024-06-22 12:42:59
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Mark Mensick :
Any ideas on how to deal with prop 19 in California?
2024-06-20 02:05:15
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user6106109424133 :
Can someone explain more why selling it after 5 years?
2024-06-20 15:33:46
4
VirginiaAustin-Realtor :
Wait, the part of taxes gone… you mean if the sell the property day after you die?
2024-06-20 02:59:15
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Mike :
No inheritance tax?
2024-06-20 11:38:36
3
davephillips3261 :
1031 exchange does have a time limitation. I didn't hear that mentioned. otherwise like your content
2024-06-24 02:32:34
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JD74955 :
What about capital gains coming from the sale of stock…any advice to avoid or reduce tax impacts?
2024-06-20 02:02:38
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DM :
You'd be better off gifting into an irrevocable trust to avoid the estate taxes if you expect a huge increase in value by death. Cap gains are 23%, estate tax is 40%.
2024-06-20 01:25:58
5
Proudpapa. :
You are a blessing to the uninformed...keep doing this, please.
2024-06-20 00:26:37
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Nsoitgoez520 :
Now ya tell me
2024-06-21 03:08:36
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Joe Neuman :
On the first couple houses anyways you won't need to worry about doing a 1031 as you're able to deduct 250000 for you and for your spouse.
2024-06-20 02:52:45
6
Krystofilus :
Wow. Love it!
2024-08-27 05:26:13
1
user6215663319163 :
I love your content, I am learning so much. Thank you
2024-06-20 03:01:52
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