Real Estate Tax Tips

1031 Exchange
Generally, if you exchange business or investment property solely for business or investment property of a like-kind, no gain or loss is recognized under Internal Revenue Code Section 1031. If, as part of the exchange, you also receive other (not like-kind) property or money, gain is recognized to the extent of the other property and money received, but a loss is not recognized... read more

More 1031 Exchange information can be viewed at IDX 1031

Sale of Residence
You may qualify to exclude from your income all or part of any gain from the sale of your main home. Your main home is the one in which you live most of the time... read more

Installment Sales
An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. If you dispose of property in an installment sale, you report part of your gain when you receive each installment payment. You cannot use the installment method to report a loss... read more