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Orange Beach

Old 02-07-2019, 09:50 AM
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Join Date: Mar 2016
Location: Slidell, LA
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Originally Posted by Fatherof4 View Post
Am I reading you right, in that, if I own a vacation home now, selling it. If I buy another vacation home, use it strictly as a rental for 2 years, then I can sell it and not have capital gains taxes?
Yes sir. Any real property rented for 14 days a year and not used by you for more than 14 days a year for the past two years can be traded for any real property that you must rent for the next two years for more than 14 days a year and not used by you or your family for 14 days a year. This will avoid all capital gains tax. I'm considering doing it as a way out of a multifamily that I'd have to pay 80k in taxes on in New Orleans. I could also buy a laundromat if the property was included, or hunting land that I would lease for two years. Any real property.

Thanks everyone for the replies. :D
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