|
Brief Description of Tax Consequences
*Primary Residence:
A $250,000 exclusion of capital gain if single or $500,000 if married.
Must have RESIDED in the property 2 of the last 5 years.
The exclusion may be used once every two years and any gain above the exclusion
is taxed at the new tax rate.
*Investment Property:
Capital gains taxes can be deferred by the use of a 1031 exchange. Prior to
selling your investment property, contact a experienced qualified exchange
intermediary to make sure you get the appropriate wording on your sales
contract. Upon closing, the ownership of the property will be
transferred to the intermediary and then to the buyer. You then have 45
days to identify your replacement property (your intermediary will explain
further) and 180 days from the relinquished property's closing date to acquire
the replacement. The exchange is completed when the property is purchased by the
intermediary and then sold to you.
* Always check with your accountant or tax attorney for complete details.
Often investors do not realize taxation on a personal residence is far
different than taxation on an income or investment property. Under Internal
Revenue Code §121, homeowners are allowed to exclude up to $250,000 of capital
gains if single, $500,000 if married, upon the sale of a principle residence
provided they have owned and occupied it two of the previous five years.
If an investor sells property they pay tax. Taxes are paid on capital gain,
not equity or profit. However, property that qualifies for preferential
treatment under Internal Revenue Code §1031 is treated quite differently.
"No gain or loss shall be recognized if property held for productive use in
a trade or business or for investment purposes is exchanged solely for
property of a "like-kind."
The
benefits of exchanging include using
leverage to maximize your investment dollars to property diversification
to allow you the widest range of investment freedom. 1031 Tax Deferral can range
anywhere from a simple swap of two properties to a complex, multi-leg,
multi-property transaction involving a delayed, reverse or construction
exchange. The investment strategy and the nature of the transaction will decide
which exchange best suits your needs.
Imagine selling rental property or land, acquiring new real estate of any
type and not paying one dime in capital gain taxes. Thousands of investors are
profiting every day simply by using the tax deferred sale IRC §1031!
Our search on the left
called "South Florida Listings" includes real estate in the following
cities: Alachua, Alafaya, Alford, Allandale, Alligator Point, Aloma, Altamonte
Springs, Altha, Altoona, Alturas, Alva, Amelia Island, Anna Maria,
Anthony, Apalachicola, Apollo Beach, Apopka, Arcadia, Archer, Argyle,
Aripeka, Astatula, Astor, Atlantic Bch, Atlantic Beach,Atlantis, Auburndale, Aventura, Aviation, Avon Park, Azalea Park, Babson
Park, Bagdad, Baker, Bal Harbour, Baldwin, Balm, Barberville,
Barefoot Bay, Bartow, Bascom, Basinger, Bay Harbor Islands, Bay Pines,
Bayonet Point, Bell, Belle Glade, Belle Isle,Belleair, Belleair Beach, Belleair Bluffs, Belleair Shores, Belleview,
Bellview, Beverly Hills, Big Coppitt Key, Big Pine Key, Big Torch Key,
Biscayne Park, Blountstown, Boca Grande, Boca Raton, Bokeelia, Bonifay,
Bonita Springs, Bostwick, Bowling Green, Boynton Beach, Braden River,
Bradenton, Bradenton Beach, Bradley, Brandon, Branford, Brent, Briny
Breezes, Bristol, Bronson, Brooker, Brooksville, Bruce, Bryant,
Bryceville, Buena Ventura Lakes, Bunnell, Bushnell, Callahan,
Campbellton, Canal Point, Canaveral Air Station, Candler, Cantonment,
Cape Canaveral, Cape Coral, Cape Haze, Cape San Blas, Captiva, Carl
Fisher, Carol City, Carrabelle, Carrollwood, Caryville, Cassadaga,
Casselberry, Cedar Key, Celebration, Center Hill, Century,
Champions Gate, Chattahoochee, Chiefland, Chipley, Chokoloskee,
Christmas, Chuluota, Citra, Citrus Springs, City Of Sunrise, Clair Mel
City, Clarksville, Clearwater, Clearwater Beach, Clermont, Clewiston,
Cloud Lake, Cocoa, Cocoa Beach, Coconut Creek, Coconut Grove, Coleman,
Conch Key, Cooper City, Copeland, Coral Gables, Coral Springs, Cortez,
Cottondale,Country Lakes, Crawfordville, Crescent Beach, Crescent City, Crestview,
Cross City, Cross Creek, Crystal Beach, Crystal River,Crystal Springs, Cudjoe Key, Cutler Bay, Cypress, Cypress Gardens, Dade
City, Dania, Dania Beach, Davenport, Davie, Day,Daytona Beach, Daytona Beach Shores, De Leon Springs, Debary, Deer
Island, Deerfield Beach, Defuniak Springs, Deland, Delray Beach,Deltona,
Destin, Dinsmore, Doctors Inlet, Dona Vista, Doral, Dover, Dowling Park,
Downtown, Duck Key, Duette, Dundee, Dunedin, Dunnellon, Durant, E
Rockland Key, Eagle Lake, Earleton, East Palatka, Eastlake Weir,
Eastpoint, Eaton Park, Eatonville, Eau Gallie, Ebro, Edgar, Edgewater,
Edgewood, El Jobean, El Portal, Elfers, Elkton, Ellenton, Eloise,
Englewood, Enterprise, Estero, Eustis, Everglades City, Evinston,
Fairfield, Fanning Springs, Fedhaven, Felda, Fellsmere, Fern Park,
Fernandina Beach, Ferndale, Flagler Beach, Flamingo Lodge,
Fleming Island, Florahome, Floral City, Florence Villa, Florida City,
Florida State University, Forest City, Forest Lakes, Fort Lauderdale,
Fort Mc Coy, Fort Meade, Fort Myers,Fort Myers Beach, Fort Ogden, Fort Pierce, Fort Walton Beach, Fort
White, Fountain, Freeport, Frostproof, Fruit Cove, Fruitland Park,
Fruitville, Gainesville, Geneva, Georgetown, Gibsonton, Glen Ridge, Glen
Saint Mary, Glenwood, Golden Beach, Golden Gate, Golden Isles Postal
Store, Gonzalez, Goodland, Gotha, Goulds, Graceville, Graham, Grand
Island, Grand Ridge, Grandin,Grant, Grassy Key, Green Cove Springs, Greenacres, Greensboro,
Greenville, Greenwood, Grenelefe, Gretna, Grove City, Groveland, Gulf
Breeze, Gulf Gate Branch, Gulf Hammock, Gulf Stream, Gulfport, Haines
City, Haines Creek, Hallandale, Hallandale Beach, Hampton, Harmony,
Harold, Hastings, Havana, Haverhill, Hawthorne, Heathrow, Hernando,
Hernando Beach, Hialeah, Hialeah Gardens, Hiawassee, High Springs,
Highland Beach, Highland City, Hilliard, Hillsboro Beach, Hobe Sound,Holder, Holiday, Hollister, Holly Hill, Hollywood, Holmes Beach, Holt,
Homeland, Homestead, Homosassa, Homosassa Springs, Horseshoe Bch,
Horseshoe Beach, Hosford, Howey In The Hills, Hudson,
Hutchinson Island, Hypoluxo, Indialantic, Indian Creek, Indian Creek
Village, Indian Harbor Beach, Indian Harbour Beach, Indian Lake Estates,
Indian River Shores, Indian Rocks Beach, Indian Shores, Indiantown,
Inglis, Intercession City, Interchange Square, Interlachen,
Inverness,
Islamorada,
Island Grove, Island Walk,
Istachatta,
Jacksonville,
Jacksonville Beach,
Jacob,
Jasper,
Jay,
Jennings,
Jensen Beach,
Jonesville,
Juno Beach,
Jupiter,
Jupiter Inlet Colony,
Kathleen,
Kenansville,
Kendall,
Kenneth City,
Key Biscayne,
Key Colony Beach,
Key Largo,
Key West,
Keystone Heights,
Kinard,
Kissimmee,
La Crosse,
Labelle,
Lacoochee,
Lady Lake,
Lake Alfred,
Lake Buena Vista,
Lake Butler,
Lake City,
Lake Clarke Shores,
Lake Como,
Lake Geneva,
Lake Hamilton,
Lake Helen,
Lake Jackson Branch,
Lake Mary,
Lake Monroe,
Lake Panasoffkee,
Lake Park,
Lake Placid,
Lake Suzy,
Lake Wales,
Lake Worth,
Lakeland,
Lakeshore,
Lakewood Park,
Lakewood Ranch,
Lamont,
Lanark Village,
Land O Lakes,
Lantana,
Largo,
Lauderdale By The Sea,
Lauderdale Lakes,
Lauderhill,
Laurel,
Laurel Hill,
Lawtey,
Lazy Lake,
Lecanto,
Lee,
Leesburg,
Lehigh Acres,
Lighthouse Point,
Lithia,
Little Torch Key,
Live Oak,
Lk Forest,
Lloyd,
Lochloosa,
Lockhart,
Long Key,
Longboat Key,
Longwood,
Lorida,
Loughman,
Lowell,
Loxahatchee,
Lutz,
Lynn Haven,
Macclenny,
Macdill Afb,
Madeira Beach,
Madison,
Maitland,
Malabar,
Malone,
Manalapan,
Manatee Contract Branch,
Mango,
Marathon,
Marco Island,
Margate,
Marianna,
Maricamp,
Mary Esther,
Masaryktown,
Mascotte,
Matlacha,
Matlacha Isles,
Maxville,
Mayo,
Mc Alpin,
Mc David,
Mc Intosh,
Medley,
Melbourne,
Melbourne Beach,
Melbourne Village,
Melrose,
Melrose Vista,
Merritt Island,
Mexico Beach,
Miami,
Miami Beach,
Miami Gardens,
Miami Lakes,
Miami Shores,
Miami Springs,
Micanopy,
Micco,
Miccosukee,
Mid Florida,
Mid Venice,
Middleburg,
Midway,
Milligan,
Milton,
Mims,
Minneola,
Miramar,
Miramar Beach,
Miromar Lakes,
Molino,
Monticello,
Montverde,
Moore Haven,
Morriston,
Mossy Head,
Mount Dora,
Mount Pleasant,
Mount Plymouth,
Mt Pleasant,
Mulberry,
Murdock,
Myakka City,
N Fort Myers,
Naples,
Naranja,
Navarre,
Neptune Beach,
New Port Richey,
New Smyrna Beach,
Newberry,
Niceville,
Nichols,
Nobleton,
Nocatee,
Nokomis,
Noma,
North Bay Village,
North Cleveland,
North Fort Myers,
North Lauderdale,
North Miami,
North Miami Beach,
North Palm Beach,
North Port,
North Redington Beach,
North Venice,
Northdale,
O Brien,
Oak Hill,
Oakland,
Oakland Park,
Ocala,
Ocean Ridge,
Ochlockonee Bay,
Ochopee,
Ocklawaha,
Ocoee,
Odessa,
Ojus,
Okahumpka,
Okeechobee,
Old Town,
Oldsmar,
Olustee,
Olympia Heights,
Ona,
Oneco,
Opa Locka,
Orange City,
Orange Lake,
Orange Park,
Orange Springs,
Orchid,
Orlando,
Ormond Beach,
Osprey,
Osteen,
Otter Creek,
Overstreet,
Oviedo,
Oxford,
Ozona,
Pace,
Pahokee,
Paisley,
Palatka,
Palm Bay,
Palm Beach,
Palm Beach Gardens,
Palm Beach Shores,
Palm City,
Palm Coast,
Palm Harbor,
Palm Springs,
Palma Ceia,
Palmdale,
Palmetto,
Panacea,
Panama City,
Panama City Beach,
Parkland,
Parrish,
Pass A Grille Beach,
Paxton,
Pembroke Park,
Pembroke Pines,
Penney Farms,
Pensacola,
Pensacola Beach,
Perrine,
Perry,
Pierson,
Pine Hills,
Pinecraft,
Pinecrest,
Pineland,
Pinellas Park,
Pinetta,
Placida,
Plant City,
Plantation,
Plymouth,
Poinciana,
Point Washington,
Polk City,
Pomona Park,
Pompano Beach,
Ponce De Leon,
Ponce Inlet,
Ponte Vedra,
Ponte Vedra Beach,
Port Canaveral,
Port Charlotte,
Port Orange,
Port Richey,
Port Saint Joe,
Port Saint John,
Port Saint Lucie,
Port Salerno,
Princeton,
Pt Orange,
Punta Gorda,
Putnam Hall,
Quincy,
Raiford,
Ramrod Key,
Red Bay,
Reddick,
Redington Beach,
Redington Shores,
Redland,
Renaissance,
Reunion,
Richland,
Ridge Manor,
Ridge Manor Estates,
River Ranch,
Riverview,
Riviera Beach,
Rockledge,
Roseland,
Rosemary Beach,
Rotonda West,
Royal Palm Beach,
Royal Plm Beach,
Rubonia,
Ruskin,
Safety Harbor,
Saint Augustine,
Saint Cloud,
Saint George Island,
Saint James City,
Saint Leo,
Saint Lucie West,
Saint Marks,
Saint Pete Beach,
Saint Petersburg,
Saint Teresa,
Salt Springs,
San Antonio,
San Mateo,
Sanderson,
Sandestin,
Sanford,
Sanibel,
Santa Rosa Beach,
Sarasota,
Satellite Beach,
Satsuma,
Scottsmoor,
Se Central Contract Branch,
Sea Ranch Lakes,
Sebastian,
Sebring,
Seffner,
Seminole,
Seville,
Sewalls Point,
Shady Grove,
Shady Hills,
Shalimar,
Sidell,
Siesta Key,
Silver Springs,
Singer Island,
Sneads,
Sopchoppy,
Sorrento,
South Bay,
South Daytona,
South Florida,
South Miami,
South Palm Beach,
South Pasadena,
South Venice,
Southport,
Southwest Ranches,
Sparr,
Spring Hill,
Starke,
Steinhatchee,
Stock Island,
Stuart,
Sugarloaf,
Sumatra,
Summerfield,
Summerland Key,
Sumterville,
Sun City,
Sun City Center,
Sunny Hills,
Sunny Isles Beach,
Sunrise,
Suntree,
Surfside,
Suwannee,
Switzerland,
Sydney,
Tallahassee,
Tallevast,
Tamarac,
Tampa,
Tampa Palms,
Tangerine,
Tarpon Springs,
Tavares,
Tavernier,
Telogia,
Temple Terrace,
Tequesta,
Terra Ceia,
Terra Ceia Island,
The Villages,
Thonotosassa,
Tierra Verde,
Tiger Point,
Titusville,
Town N Country,
Treasure Island,
Trenton,
Trilby,
Trinity,
Tropic,
Uleta,
Umatilla,
Union Park,
University,
University Of Miami,
University Of Tampa,
University Park,
Valparaiso,
Valrico,
Venice,
Venus,
Vernon,
Vero Beach,
Viera,
Village Of Golf,
Village Of Palmetto Bay,
Virginia Gardens,
Wabasso,
Wachula,
Wacissa,
Wahneta,
Wakulla Springs,
Waldo,
Walnut Hill,
Warm Mineral Springs,
Watersound,
Wauchula,
Wausau,
Waverly,
Webster,
Weeki Wachee,
Weirsdale,
Welaka,
Wellborn,
Wellington,
Wesley Chapel,
West Beach Station,
West Hollywood,
West Melbourne,
West Miami,
West Palm Beach,
Westchase,
Weston,
Westville,
Wewahitchka,
White Springs,
Wilbur By The Sea,
Wildwood,
Williston,
Wilton Manors,
Wimauma,
Windermere,
Winter Beach,
Winter Garden,
Winter Haven,
Winter Park,
Winter Springs,
Woodville,
Worthington Springs,
Yalaha,
Yankeetown,
Ybor City,
Yeehaw Junction,
Youngstown,
Yulee,
Zellwood,
Zephyrhills,
Zolfo Springs,
|
