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Tax consequences of" real estate swap"

tthanks for your advice on capital gains taxes- it was very helpful. I don’t want to push my luck, but here is another question- I have three rental units ( I live in noeof them),and would like to sell two of them in order to buy a two family house. Inthe end I will still have two rental units, and will live in a third unit . I purchased them for 85000 each, for a total of 235000. I paln to sel them for 300000 each for total of 600000, and put all of that into the two new units. What are the tax consequences, benefits of that? Thanks very much

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Answer #1

you kinda confused me there, you have 3 rental properties right now, and you live in another property of your own? correct, now you want to sell 2 of those properties and buy two new units????? I don’t get what you’re trying to ask, sorry I kinda lost ya there…….but in order for you to calculate the tax consequences you just need to follow the examples I gave ya, just use the tax bracket that you’re in 25% or 15% and then just calculate from there……just substitute your numbers for them and calculate individually, and then combine the Tax consequences together…….

you will be paying a lot of Tax on those I can tell ya that much….

Hope this helps…….if anything you can send me a private message with further questions

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