Join us for a special educational webinar hosted by one of our subject matter experts and attorneys, Marty Edwards.
This session will explore key strategies for converting a primary residence into an investment property while optimizing tax outcomes through the combined use of IRC §121 and §1031. Attendees will gain a clear understanding of how these two powerful tax provisions can work together to potentially reduce or defer capital gains taxes when transitioning between personal and investment use.
- Overview of IRC §1031 and §121 rules
- Key guidance from Revenue Procedures 2005-14 and 2008-16
- Converting a primary residence to rental/investment property
- Converting rental/investment property to primary residence
- Timing considerations, including holding periods and the 2-out-of-5-year rule
- Depreciation and potential recapture impacts
- How gains are allocated between exclusion, deferral, and taxable portions
- Live Q&A with industry expert