Tax Straddling and Why it Works Heck What Is It?

By
Real Estate Broker/Owner with Charles Stallions Real Estate Services

When a 1031 Exchange is opened in the latter part of the year, a seasonal benefit worth mentioning is “tax-straddling.” If that exchange is successfully completed, those taxpayers defer taxes to receive the benefits of the 1031 Exchange. However, if that exchange fails and is not completed, taxes will be due. The benefit for those taxpayers is that they may still qualify for a “mini-tax deferral” (via tax straddling) where they can report and pay their taxes on their 2023 tax returns instead of immediately on their 2022 tax returns. Click here to read the technical explanation of how tax straddling works.

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Bottom Line

Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Work with a real estate professional to understand your budget and how you can be prepared to buy your home before rates climb higher.

 

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We can help you relocate, find a job, a daycare, and great places to eat, shop, and play along the gulf coast. It all starts by clicking here. Put my over 28 - plus years to work in your best interest. Call, text 850-476-4494, or email us Now!

Charles Stallions, CBR, CRS, CSR, is a licensed broker/ owner representing buyers and sellers in Pensacola, Pace, and Gulf Breeze Florida. Text, Call or Email, "answer" to Charles at 850-476-4494 for the answer to the two most important questions you need to ask YOUR next real estate agent or loan officer.

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Thinking of SELLING,  If I sell your home YOU PAY US $2995. Flat Fee. If you want your home sold through MLS add 2.5%. Our average selling time is 10 days, with sellers saving an average of $12077 with a 111.4% asking price ratio. We use a 28-step Selling System for accuracy, transparency, and the best marketing tools available today.

At Charles Stallions Real Estate Services we use our TRI-merge System and its accuracy is beyond reproach. We use the MLS, Zillow, Tax Rolls, and the appraisal evaluation system with one other secret sauce to come up with the TRUE VALUE of your home.

Call or Text Charles Stallions NOW at 850-476-4494 for a free over-the-phone evaluation or Email: charles@charlesstallions.com for a complete package to review, no high-pressure sales pitch or obligations

Charles Stallions, CBR, CRS, CSR, is a licensed broker/ owner representing buyers and sellers in Pensacola, Pace, and Gulf Breeze Florida. Text, Call or Email, "answer" to Charles at 850-476-4494 for the answer to the two most important questions you need to ask YOUR next real estate agent or loan officer.

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