Tag Archives | Section 121

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Thinking About Selling Your Vacation Home? The Time To Start Planning is NOW!

There are two types of real estate that can be sold with advantageous tax treatment, your primary residence and your business/investment property. Favorable treatment exists for the sale of a personal residence if the property has been the primary residence of the taxpayer for two of the preceding five years. Section 121 of the Internal […]

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Real Property Can Be Exchanged (Sometimes)

It’s important to understand that there are three distinctively different types of real estate, some can be exchanged, some are prohibited from tax deferred exchange treatment.  The three types are personal use, business/investment use and dealer property. Favorable treatment exists for the sale of a personal residence if the property has been the primary residence […]

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