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Real Estate
The Real Estate Adviser |
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May 29, 2008
The Real Estate Adviser: Can't sell? Try keeping your house as a rental
By Tom Kelly
Special to the Journal
Special to the Journal
It's a sign of the times. Many homes are taking longer to sell and sellers are accepting less than they imagined.
While it's often critical to pull out the equity in a primary residence in order to buy another primary residence, the Internal Revenue Service provides a relatively new advantage for homeowners who must rent out their property now because of a slow sales market. Instead of selling it later and paying a capital gain as an investment property sale, owners can take out tax-free cash and defer the remainder via a tax-deferred exchange.
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Previous columns:
- The Real Estate Adviser: That home loan may come with free air miles, 05-22-2008
- The Real Estate Adviser: Chilly U.S. home markets make lenders look south, 05-15-2008
- The Real Estate Adviser: Timeshare rentals? Do your homework, 05-08-2008
- The Real Estate Adviser: What would you give for ‘stigmatized' house?, 05-01-2008
- The Real Estate Adviser: Reverse mortgage options expanding, 04-17-2008
- The Real Estate Adviser: Foreign property sellers target the baby boomers, 04-10-2008
- The Real Estate Adviser: Foreclosure tax relief only on 'original debt', 04-03-2008
- The Real Estate Adviser: Don't like that property tax bill? Then appeal it, 03-27-2008