How Do You Sell Rental Property And Buy House For Retirement Without Paying Taxes?
If you own rental property and are nearing retirement age when you want to kick back and move to Florida but are scared of the taxes your going to end up paying on it there is a way of combining the acquisition of your retirement home with the selling of your rental home, or homes, that if done correctly will result in no tax bill at all! Take your rental property and put it up for sale but use what is called a ‘qualified intermediary’ to facilitate the sale. Look up Starker Exchange Intermediaries on internet and look up local companies that do this type of transaction, it’s advisable to check references here because details have to be followed to the tee for this to work. Before you sell the rental make sure you have a list of potential retirement homes that you have considered. This plan works best if you’re about five to ten years away from retirement because the retirement property you purchase will have to be rented for a couple of years to qualify for tax free treatment. This tr
