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SVTPerformance's Chain of Restaurants
Road Side Pub
Real-Estate Bubble Popping?
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<blockquote data-quote="MG0h3" data-source="post: 16798424" data-attributes="member: 164690"><p>I really don’t think that’s right. </p><p></p><p>Otherwise everyone would do a 1031 and never pay capital gains. </p><p></p><p>Curious how she pulled that off anyways as they are supposed to be “like kind”. </p><p></p><p>I just googled this again. Absolutely says yes, you pay them. </p><p></p><p>I have a coworker that owns millions in real estate and he said don’t do it. </p><p></p><p>If you keep rolling it into one eventual sale later on, you may be paying a higher tax rate. </p><p></p><p>Sell 10 properties in your life with 100k profit and you’re on the hook for 1 million. First 40k is not taxed so smaller portions are better </p><p></p><p>I recall another guy on here did that and was wondering why the state of CA pinged him every year regarding th status of his property. </p><p></p><p>It’s because when he sells it, he’s paying them there taxes. Plus the Fed. </p><p></p><p></p><p>Sent from my iPhone using the <a href="http://r.tapatalk.com/byo?rid=92568" target="_blank">svtperformance.com mobile app</a></p></blockquote><p></p>
[QUOTE="MG0h3, post: 16798424, member: 164690"] I really don’t think that’s right. Otherwise everyone would do a 1031 and never pay capital gains. Curious how she pulled that off anyways as they are supposed to be “like kind”. I just googled this again. Absolutely says yes, you pay them. I have a coworker that owns millions in real estate and he said don’t do it. If you keep rolling it into one eventual sale later on, you may be paying a higher tax rate. Sell 10 properties in your life with 100k profit and you’re on the hook for 1 million. First 40k is not taxed so smaller portions are better I recall another guy on here did that and was wondering why the state of CA pinged him every year regarding th status of his property. It’s because when he sells it, he’s paying them there taxes. Plus the Fed. Sent from my iPhone using the [url=http://r.tapatalk.com/byo?rid=92568]svtperformance.com mobile app[/url] [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Real-Estate Bubble Popping?
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