If you’re claiming the home-office deduction and are planning to sell your home, I’ve got good news for you.
Thanks to the principal-residence tax-free exclusion and the “1031 exchange” you can avoid taxes on the sale of your home. What’s more, you can enhance your deductions on your replacement home!
Want to get the whole story? Check out my new article titled Tax Tips: Avoid Taxes on the Sale of Your Principal Residence That Contained a Home Office.
Three ways our fact-filled article can help you:
- We’ll explain this strategy for saving big money. The IRS has created an easy-to-follow procedure for combining the tax-favored Section 1031 tax-deferred exchange and the Section 121 home-sale exclusion rules. The result? Zero taxes! Get all the facts when you read the full article.
- Combining Sections 121 and 1031 offers even more advantages. That’s right. If you know what you’re doing you can get free depreciation deductions and reduced taxes on your next home sale. We’ll give you the details when you read the full article.
- We’ll provide specific examples that make everything clear. This subject may sound a little technical, but it’s actually pretty easy to understand. Real-world examples make things crystal clear and you’ll find them when you read the full article.