Agents at the W Home Group, the number one real estate team in Maryland, are your trusted experts for the entirety of the home buying process. Real estate investors typically have more unique situations than those looking to own and live in a home, including different tax circumstances.
Capital gains taxes are imposed when selling a home you've lived in for less than two years, selling a flipped home, or a landlord selling a rental property. Clients who plan to continue investing can instead opt for a 1031 exchange. In that scenario, an investor can reinvest the proceeds of a sale into their next investment. Sellers have 45 days to identify their next property, and 180 days to purchase and go to closing.
You should always speak with your agent and your tax professional about what works best for your needs.
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