Today’s podcast is rooted in the fact that you CANNOT have too much of a good thing – and that’s why we are pleased to present our continuation of last week’s podcast with Ron Ricard, one of the nation’s only 130 CES® (Certified Exchange Specialists). If you’ve streamed our podcast lately, than you know Ron joined us recently to share the ins, outs, ups and downs of tax deferred exchanges. Last week we released a show which covered the basics including the 3-property rule, the two-hundred percent rule, the 95% percent exception rule, debt vs. equity when ‘trading up,” hold time (it is NOT in the IRC code) and related parties. If you missed it – find that podcast here.
Today, we’ll release Part II which explores integrating tax deferred exchange rules into the sale of a primary residence. Ron will share why this usage has emerged, how a home office or rental impacts the exchange and how to convert the property into an investment and THEN an exchange. Our discussion will include specific examples, address the traditional $250,000 and $500,000 forgiveness for primary homes and what time frames are applicable. It’s not an easy to discussion to have – but it’s an important one and this is your chance to learn from the best!