Defer Capital Gains on a Primary Residence?

Primary Residence Tax Deferral

Several neighbors have discussed with me their desire to sell their home that has become too expensive to maintain, and move to a more manageable home, condo or retirement community.  They were worried that they would have to pay too much in capital gains tax because their home has increased so much in value.  Fortunately, there are tools and options that are available to help people defer capital gains tax even with primary residences.  A couple of the options include the Deferred Sales Trust and the Delaware Statutory Trust. 

By using some of the options available they might be able to make their transition, and potentially use that tax money for income.  As an Assistant Vice President for Old Republic 1031 Exchange in the past, these alternatives create a lot of solutions to the problems many of my clients had when researching the traditional 1031 exchange.  My friend’s situations made me realize that many people do not know these tools are available, and I wanted to share this with our friends and neighbors to make sure they are all taking advantage of the resources provided by these tax deferral options. 

As a real estate professional for over 25 years, I would like to help you sell your real estate and potentially defer your capital gains while simplifying your life.

Endorsement:

“David…He is honest, sweet, caring, intelligent, effective, and his motivation is simply to help others.. I’m blessed to know and work with him.” – Karyl Hall, Ed.D