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All Forum Posts by: Steve Ghirardo

Steve Ghirardo has started 0 posts and replied 1 times.

Post: Keep or sell Bay Area rental? Converted from primary 2 yrs ago

Steve GhirardoPosted
  • Residential Real Estate Broker
  • Novato, CA
  • Posts 1
  • Votes 0

Hi Karen, You can sell within the next year and take advantage of both tax breaks:  the 250k (500k if you're married filing joint) gain exclusion along with the tax deferral provisions of 1031.   You could therefore pull significant cash out tax free and exchange the rest into 1031 replacement property.   Tax law specifically allows for this "combo" treatment.