1031 exchange:
Dual Use of Property
1031 Exchange customers often use their real estate for both investment and as principal residence.
Examples of this are:
1) The conversion of a principal residence to an investment use, or vice versa;
2) The existence of a separate dwelling unit on a property used as a principal residence (duplex or mother-in-law apartment);
3) The use of part of the residence for an in home business (daycare or other home based business);
4) The dual use of a property as both residence and business (farms and ranches).
In order to achieve maximum tax savings, both IRC code sections 1031 and 121 can apply to the sale of such a property. In each of the above examples, the application of the tax law varies. Please contact us for assistance when faced with the sale of a dual use property—we can help you maximize your savings!
FAQs
Capital Gains Tax Example An example of how capital gains is estimated in a ...Read More
Can I exchange a business--UPS Store Example It is possible to exchange a business-but there ar ...Read More
Capital Gains State Tax Rates Find the Capital Gains Tax Rate for your state! ...Read More
How Often can I take Advantage of the Tax Exclusion Under IRC section 121? 121 tax exclusion ...Read More
200 Percent Identification Rule What if the property value increases? Is the ID v ...Read More
Subdividing question Can I subdivide? ...Read More
Tax Free Cash How can I take cash out? ...Read More
Capital Gains Exclusion??? Mixing up Section 121 and Section 1031 ...Read More
More on Capital Gains Question about Capital Gains. ...Read More
Taking Cash Out of a 1031 exchange What about taking cash out of a 1031 exchange? ...Read More
Accumulated Depreciation How do I handle depreciation? ...Read More
Lease Options How do I handle rent money? ...Read More
Dual Use of Property Primary residence and? ...Read More
Toll Free: 1-888-899-1031
Latest Newsletters
Oil and Gas investors are exchanging into undervalued real estate... Read More
Freeing up cash before closing is often invaluable... Read More
Don't lose out on the opportunity to save thousands of dollars in taxes... Read More
Top 10 Ways to Legally Avoid Paying Taxes.
Sometimes our lamentable sense of humor gets the better of us... Read More
1031 Exchange Alternative: Oil and Gas Investments.
Certainly the most common exchange we facilitate is real estate for real estate. Did you know the definition of "real property" includes mineral/oil and gas rights? Read More
Category
- Cash from exchange!
- My state tax rate
- Tax Estimator
- 1031 Exchange Summary
- 1031 History
- FORM 8824 Help
- Client FAQs
- Newsletters
- Exchange Types
- Exchange Fees
- About Us
- Affiliate Program
- Join Our Network
- Newsletter Sign-up
- Contact Us
- Newest Pages
- Dual Use of Property
- Three Tax Strategies to Maximize Tax Savings
- Online help for completing IRS Form 8824
- Principal Residence Considerations
- Lease Options
- Accumulated Depreciation
- Taking Cash Out of a 1031 exchange
- More on Capital Gains
- Capital Gains Exclusion???
- Exchange Basics
- Increasing Basis
- Tax Free Cash
- Subdividing question
- 200 Percent Identification Rule
- How Often can I take Advantage of the Tax Exclusion Under IRC section 121?
- Capital Gains State Tax Rates
- RELATED PARTY 1031 EXCHANGES FULL OF SUBTLETIES
- Extend 1031 Exchange Deadlines
- One Spouse or Two
- Capital Gains Tax Example
- FunTaxGear.com
- Site Map