Seeking Tax Professional for Selling House Hacking Property

Denver, Colorado
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Seeking Tax Professional for Selling House Hacking Property

Nolan McMurray
Member since 2024 · 1 post · 1 vote

I’m planning to sell a property that I’ve been using for house hacking, and I’m looking for a tax professional who can offer expert advice on the tax implications and strategies involved in this process.

If anyone has recommendations for a tax advisor with experience in real estate and house hacking, especially concerning the sale of such properties, I would greatly appreciate your suggestions.

Please share any contact information and details about their expertise.

Thank you

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  • Account Closed
    Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
    2y

    Hello Nolan!

    We arent allowed to promote ourselves on this forum due to BP rules. I would reach out to those folks who are answering questions and see if they are accepting new clients. Best of luck!

    0Reply
  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 979 votes
    2y

    @Nolan McMurray

    If the house hack was your primary residence you may not have to pay taxes on the first $250,000 of capital gains. If you took depreciation, you may have to pay depreciation recapture. 

    I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

    You may want to consider working with your accountant remotely to expand your options.

    I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

    Good luck.

    404-482-3170
    Hampton Tax and Financial Services LLC4.7106 Reviews
    WebsiteView Page
    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    2y

    There are a couple of questions before we can determine how much gain(if any) can be excluded.

    How long did you live in the property?
    Is the property a SFH or a Multi?

    Best of luck with your search of a tax professional.

    [email protected]917-280-8544
    Basit Siddiqi CPA4.880 Reviews
    View Page
    0Reply
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