Published November 13, 2024
Personal Residence to Rental - The Super Tax Break
I love it when you can save more and not pay as many taxes.
Personal Residence to Rental - The Super Tax Break
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Did you know you could potentially avoid paying taxes on hundreds of thousands of dollars in home sale profits? By strategically converting your primary residence into a rental property and then selling it, you can leverage both Section 121 and Section 1031 of the Internal Revenue Code to significantly reduce your tax burden. This clever real estate maneuver allows you to exclude a portion of the gain and defer the rest, maximizing your financial benefits.
If you are interested in a 1031 exchange let me know as I am 1031 exchange certified and am a Keller Williams Realty Certified Planner!!
Warm Regards,
Joe Brooks
505 500 4663
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