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Tax, SDIRAs & Cost Segregation

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Robert Andrade
  • Construction Trucking Owner / Operator
  • New Bedford, MA
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133
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Massachusetts tax laws re: House Hacking

Robert Andrade
  • Construction Trucking Owner / Operator
  • New Bedford, MA
Posted Feb 13 2016, 05:22
Can someone, familiar with Massachusetts tax codes, answer a question for me please? I have heard that if you buy a multi and live in one of the units, or for that matter any property you plan to live in, that you must reside in the home for two years to avoid paying some large tax. Is this true? I have read in the house hacking section that many people buy a multi, live in one apartment for one year and then repeat. Are they getting socked with some tax for doing that or is there a loophole I have missed? Thanks ahead of time for your replies

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