Real Estate Agent · Greater Tampa Bay · Member since 2017 · 392 posts · 290 votes
A article came out this morning by Bloomberg and I have to say, I hate that this was framed as a "Trump tax thing". I'm sure most of congress has utilized as 1031 exchange yet framing it this way will incentivize a lot of people to vote "yes". I know it's supposedly going to be capped at 500k but at the rate appreciation is accelerating, how many people will that even benefit?
Real Estate Agent · Austin, TX · Member since 2019 · 64 posts · 31 votes
5y
@Luke Rorech. still allowed up to $500K. I would open a new LLC for each property until the max has reached. I'm sure there will be a way to work around it. For example, you can move in and live in it for 2 years, and have 100% of it tax exempt after you meet 2 out of 5 rule!
Real Estate Agent · Greater Tampa Bay · Member since 2017 · 392 posts · 290 votes
5y
Great creativity @Darshil Parikh. I've done the live in flip a few times to avoid the capital gains tax up to 250k and will utilize it even more once married, as it then moves up to 500k. My bigger concern was what the impact could be on the larger CRE and the trickle down affect it will have if those owners no longer sell and just hold for the long run.