Question On UBIT And TIC In Iras...
suppose i wanted to invest my ira money into a TIC (tenants in common) real estate property. would my ira be subject to UBIT? thanks.
suppose i wanted to invest my ira money into a TIC (tenants in common) real estate property. would my ira be subject to UBIT? thanks.
You are each entitled to a $250000 capital gains tax exclusion if you sell your primary residences. If you both sell, where do you intend to live? Planning to buy a new home?
One option is to sell hers, with no capital gains due and live in yours together for two years and then sell it and take advantage of a $500000 married couple tax exclusion. In the mean time, you could use the profit from her home sale to purchase an investment property (or even the house you want to ultimately move into, letting renters pay for it for two years).