Margaret Kapranos, San Francisco Bay Area  REALTOR. 415-608-5070 (Berkshire Hathaway Home Services)

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Rainmaker
200,729
Jerry Thomas-Construction Loans
Cranbrook Loans - Farmington Hills, MI
Construction Loans in MI, OH, PA, VA, GA and FL.

After getting a $40,000 tax tab from Uncle Sam one year, I opened up a Roth IRA and do all my flipping in that account. Put post tax money in and never have to pay any taxes when you take out your profits in retirement.

Apr 23, 2018 01:44 PM
Ambassador
3,175,280
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

The solution I used is to recommend clients consult with a tax attorney or CPA. 

Apr 23, 2018 01:02 PM
Ambassador
2,613,413
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  IRC Section 1031 for rental/investment properties.

 

  For personal residence, the IRS homestead exemption. 

Apr 23, 2018 12:51 PM
Rainmaker
5,768,742
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Margaret,

There is always the 1031 exchange, and I am also seeing whole industries moves out of California.  Carl's Jr who was headquartered here in Carpinteria has gone to Idaho...A

Apr 23, 2018 12:41 PM
Rainmaker
2,205,983
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

If you are worried about capital gain taxes, look into 1031 Exchange. 

Apr 23, 2018 05:21 PM
Ambassador
5,827,167
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I am a responsible citizen and am happy to share my gains, irritates me that that guy in the white house brags about not paying his taxes.

Apr 23, 2018 03:26 PM
Rainmaker
1,568,480
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

A question for a CPA or tax attorney.

Apr 23, 2018 01:38 PM
Rainmaker
7,130,615
Roy Kelley
Retired - Gaithersburg, MD

This is a duplicate question.

Apr 23, 2018 01:08 PM
Ambassador
3,085,570
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

nope.  I just pay my taxes and move on.

Apr 23, 2018 12:51 PM
Ambassador
4,029,125
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Not at my age..

Apr 23, 2018 05:27 PM
Rainmaker
1,372,915
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Nope.

I use 1031 Exchange vehicles. But, I'm a Realtor not a Tax Man nor CPA so I don't offer any advice regarding the topic.

Apr 23, 2018 05:26 PM
Rainmaker
1,598,230
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

For sure, a lot to learn about this subject and great answers.

Oct 27, 2018 03:38 PM
Rainmaker
2,069,797
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

So many great answers. I hope one of them was right for you. 

Oct 27, 2018 03:37 PM
Rainmaker
1,191,144
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Long term capital gain from holding more than 1 year. The tax rate has significantly reduced to like 20%.  Those who do not want to pay tax do not waste your precious time. They think they will never pay tax after they are gone. Sorry, IRS will be after their soul.

 

Apr 24, 2018 05:41 AM
Ambassador
3,987,060
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

There are ways to defer and protect gain. The 1031 tax exchange I am familiar with but I would refer the client to a tax expert to strategize.

Apr 23, 2018 06:14 PM
Ambassador
4,627,224
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Personally, I would do a 1031 Exchange but, would certainly consult my financial planner & CPA before doing anything that impacts my taxes or retirement.

Apr 23, 2018 05:34 PM
Rainmaker
5,400,673
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I am seeing many of my clients selling their investment properties this year, and always encourage them to do a 1031 exchange, but speak with their tax professional first.

Apr 26, 2018 08:56 AM
Rainmaker
1,439,471
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

See my previous answer

Apr 24, 2018 09:02 AM
Rainmaker
3,071,034
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

No

Apr 24, 2018 06:29 AM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Not an issue for me.

Apr 24, 2018 05:30 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Talk to a CPA .

Apr 24, 2018 04:44 AM
Rainmaker
4,573,347
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I've yet in 25 years to run across a capital gains problem with one of my sellers. That being said, this is an issue for which advice should be given by tax, financial advisor, and accouting professionals.

Apr 24, 2018 04:07 AM
Ambassador
4,318,202
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Margaret Kapranos - duplicate? perhaps. Happens sometimes.

Apr 23, 2018 09:21 PM