1031 Exchange – Aging Rental Property?

Posted on: May 29th, 2011 by admin No Comments

If you have owned an Investment property for 20+ years and have been depreciating the asset all of these years, you need to seriously consider a tax free exchange of like property.

Once you have depreciated an asset completely over 20+ years, your tax write off is little to nothing. At that point most of the rental income is taxed as regular income. One of the major benefits of owning investment property is to have the ability to take advantage of the tax benefits associated with ownership.

If you have aging rental property you can sell the property and move the proceeds to new property, tax-free, and gain the ability to depreciate the new property over the next 20+ years; saving immediately and moving forward on Income Tax! On paper the depreciation will cause a loss or very little profit for tax purposes. Check with your accountant to see how it would affect your situation. For details on how a tax-free exchange could work for you call or email me for an appointment.

News and Highlights

  • 14May

    Considering Offers to Buy Your Home

    Keep in mind that you are out to get the best price AND the best terms for you.

  • 28May

    Investing in Athens Real Estate

    In today’s real estate market you have so many variables pointing to it being one of the best long term investments you could make.

  • 31May

    BMW CCA Foundation

    The BMW CCA Foundation funds a driving program for teens to gain skills, safety, and experience behind the wheel. I am a big believer in this cause and the safety of our teen drivers.

 

Testimonials

Alexander Gaydamaka


Dear Prudential Blanton Properties, I would like to acknowledge a very professional work of Mr. Bob Allen within searching and purchasing process of my new home in Georgia (moved family from Canada). Bob has helped our family very efficiently in many situations (including those that are beyond usual realtor’s responsibilities). I congratulate you with having […]

Meet Bob Allen

Bob Allen is a licensed REALTOR® in Athens, Georgia, helping home buyers and sellers in Clarke County and the surrounding areas. Whether you’re looking to buy or sell your home, Bob offers courteous, personalized assistance…

Web site design by ryanlittscreative