John R. Bullis

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November 18, 2013
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John R. Bullis: Rented real estate could bring a healthy return

If you bought rental real estate years ago before the Great Recession and it has gone down in value, you might have a big gain if you sell it. That is especially true if it is rental real estate and you have claimed depreciation expense for many years. The way to postpone the gain might be to trade it for other investment real estate of equal or greater value. Section 1031 of the Internal Revenue Code allows you to trade for “like kind” property without paying tax on the gain unless you get cash out and/or have more mortgage given …

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The Nevada Appeal Updated Nov 18, 2013 11:23PM Published Nov 18, 2013 11:23PM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.