Questions tagged [section-121]
The section-121 tag has no usage guidance.
3 questions
1
vote
0
answers
38
views
Combine 121 and 1031 - how much capital gain is non taxable?
Section 121 allows $500k of cap-gain to be non taxable (in the right circumstances) Section 1031 allows the deferral of capital gain taxes (in the right circumstances), and they can be combined. But I'...
- 111
3
votes
1
answer
778
views
Do I need to buy a new property to get the tax exclusion from Section 121?
I've owned and lived in my primary residence for about 3 years now. I am about to sell it in a few months and, when searching online for tax information, I saw many references to both Section 121 and ...
- 1,183
2
votes
1
answer
148
views
Can I do a 1031 exchange and later get Section 121 tax free gain
My wife owns a condo from before. We plan on doing a 1031 exchange and getting one instead in our city partly b/c it will be easy to manage rental rather than having to fly cross country.
Down the ...
- 21