1031 basis or basis 101? I dont know can I get witness!
Thank you for your help!
Q) If a person lived in residence for 10 years, paid the property completely off, and wants to move to another state,
Does the basis include the interest and repairs on the home?
Also if the home is 4x what was initially paid, Is the deferred allowance for the cap gains or the the sale price?
If it was a res, can they buy a investment and res?
Thank you much super genius BP people!