Ask the Hammer: Investments, Real Estate, and Capital Gains Tax

In this episode of Ask the Hammer, a Retirement Daily reader asks:

“On a recent trip to West Palm Beach, I was researching some of the communities near my parents. I own an income property in New Jersey, as well as my personal residence. I would be able to live with my aging parents to better care for them and was thinking about purchasing an income property near them to have an income and avoid paying capital gains taxes. What I noticed about the properties was that the communities had restrictions on when I would actually be able to rent the property. Some one year and others two. Would these properties actually be considered acceptable for a 1031 exchange? Also, if there are other types of investments besides real estate that I could put my proceeds into to avoid paying capital gains?”

Jeffrey “The Buckinghammer” Levine of Buckingham Wealth Partners talks with Robert Powell, editor of Retirement Daily, to answer this reader’s question.

Jeffrey and Bob discuss what a 1031 exchange is, who to work with to ensure all rules and guidelines are being met, and which properties qualify for one.

Make sure to watch the full episode to find out the answers!

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