All Forum Posts by: Nina Phillips

Jeff, 

Thank you so very much for this information and very sound advice. I hope in some way to be able to reciprocate if you need any guidance regarding the NYC real estate market. You gave me the incentive to broaden our search. Much appreciated.

Nathan, 

Thank you for your input. This is very helpful information.

Wishing both of you the best of luck in using your expertise.

Nina

Thank you for any advice given. The issue is that NYC and State take an enormous tax chunk out of your investment earnings. So if you relocate your investment property to another state are you still obliged to pay the taxes of the state where you initially executed the 1031 exchange?

Yes! I am counting my blessings!

Thank you Kyle. While I've been speaking in the first person, I'm happy to say that I am still married  Thank you for letting me know the exemption is called IRC 121. All the best, Nina

whoops ! I realize that the 500K exemption is not called a 1021. And yes, I understand all the ramifications of the 1031 program. 

There is an unusual story to how my husband and I acquired our house. Is there a particular forum to use to post that story?

Brilliant! Thank you both. I do live in one unit, it is half the size of the other. So therefore, i am entitled to taking a 1031 and 1021 exclusion if I handle the process correctly.

What a great website. Thank you!

Upon selling my valuable 2 family house in which I hold the deed , do I  qualify for a 1031 exchange on my rental unit (which was originally occupied by us but has been rented out for the last 5 years) as well as qualified to use  the $500K exemption from capitol gains tax on my residential unit? 

Thank you for any and all responses......