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Capital gains tax is a levy imposed by the IRS on the profits made from selling an investment or asset, including real estate. Primary residences have different capital gains guidelines than ...
A like-kind exchange happens when an investor wants to sell real estate and avoid the capital gains tax that would normally be assessed. The investor can use the like-kind exchange to sell a ...
Would she be subjected to capital gains tax (above the $250,000 exclusion) on the sale and would it matter if only she is on the deed? Or would it make sense to have both of us on the deed to get ...
However, a real property within the United States and a real property outside the United States would not be like-kind properties. Generally, "like kind" in terms of real estate, means any property that is classified real estate in any of the 50 U.S. states or Washington, D.C., and in some cases, the U.S. Virgin Islands.
Avoid paying tax on capital gains with the "buy, borrow, die" technique: Buy or earn capital assets like stocks and real estate, and then never sell because assets do not count as income until sold. Using capital assets as collateral to borrow spending money at interest rates considerably lower than the tax rate; loans are not taxed as income.
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
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The real estate tax is not imposed by five of the United States of America and those are Mississippi, Missouri, New Mexico, North Dakota, and Wyoming. In this broader sense, estate tax, gift tax, capital gains tax, sales tax on goods (not services), and certain use taxes are all transfer taxes because they involve a tax on the transfer of title.