Socialize
Thinking about selling that second home that you have converted to your personal residence? Beware! Deep in the new housing bill is a tax code change that limits the typical $250,000 or $500,000 exclusion on an investment property that has been converted to a personal residence (living in it two out of the past 5 years). There may be changes in this bill that also effect the taxes on a 1031 Exchange check with a Real Estate Tax Accountant.
Rick Bonetti | APR Referral Network | 408-857-8800 | DRE #01237009