Pembroke Pines, Cooper City and Davie real estate and homes for sale in Florida, Hablo Espaņol, Spanish speaking - John Lucka REALTOR® John Lucka REALTOR(r) for Pembroke Pines, Cooper City and Davie, Florida real estate, Hablo Espaņol, Spanish speaking - NUMBER1EXPERT™ John Lucka NUMBER1EXPERT(tm) for Pembroke Pines, Cooper City and Davie, Florida real estate, Hablo Espaņol, Spanish speaking
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John Lucka, REALTORŪ, real estate agent and broker for Pembroke Pines, Cooper City and Davie Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

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Real Estate Tips
Tax Considerations >New 1031 Exchange Rules

One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.

A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.

Consult your tax advisor for more detailed information.

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Real Estate Trivia
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What does the common acronym FSBO (pronounced fizzbo) stand for?

A 
For Sale By Owner. (Between 85 to 95% of existing homes are sold with a Realtor's help.)
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John Lucka, REALTORŪ, real estate agent and broker for Pembroke Pines, Cooper City and Davie Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

John Lucka
RE/MAX PowerPro Realty

4301 S. Flamingo Road Suite 101
Davie, FL. 33330
Phone: 954-874-2525
Fax: 954-874-2520
Email: john@johnlucka.com

John has been working full time in real estate since 1977, earning numerous national and local awards, including the number one agent in a national organization of nearly 6,000 sales professionals. A consistent member of the RE/MAX Platinum Club as well as a recipient of the prestigious RE/MAX Hall of Fame and Lifetime Achievement Awards, he continues to be one of the area's top producers year after year. John has become one of Broward's most successful and respected real estate professionals. You'll benefit from his many years of experience! John has helped over 2,800 families buy or sell their home. He specializes in short sales, foreclosures, rental or management of real estate.

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RE/MAX PowerPro Realty real estate and homes for sale in Pembroke Pines, Cooper City and Davie Florida    RealEstateABC

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