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Apr 22, 2021
2:12
:58
pm
Penske Material
Truly Addicted User
Really? I might need to use this soon.
I've lived in my house for 9 months. Can I sell and avoid CG taxes if I ID a new property in 45 and close in 180?
I already have a new house I want to offer on (I could sell mine in a heartbeat).
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Penske Material
Previous username
Santos L. Halper
Bio page
Penske Material
Joined
Sep 25, 2012
Last login
Apr 24, 2024
Total posts
20,995 (608 FO)
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Messages
Author
Time
Just sold our first rental property.
Cougarclaw
4/22/21 1:46pm
Nice, now starts the capital gain remorse
Samuel Hall Society
4/22/21 1:48pm
well, we got out of Oregon so won't regret that.
Cougarclaw
4/22/21 1:50pm
Can always Section 1031 and avoid capital gains--45 days to identify a new propt
Incentivize
4/22/21 1:57pm
Really? I might need to use this soon.
Penske Material
4/22/21 2:12pm
you'll need a lawyer for a 1031, there are a ton of rules
Cougarclaw
4/22/21 2:15pm
You can only 1031 rental properties. For primary properties you have to
The Godfather
4/22/21 2:18pm
Had to follow complex rules before he sold. Afterwards doesn’t work
Zaphod
4/22/21 2:33pm
I just did this with the rental I sold, it was fairly straight forward.
Wizbang
4/22/21 3:33pm
Did you sell just because you are moving snd didn’t want to use
USMCdad
4/22/21 2:24pm
Now put all of those funds into safeplanet, my new crypto
Unibro
4/22/21 3:03pm
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