Tax Season is Upon Us

Real Estate

Real Estate Matters with Tim Bro

Tax Season is Upon Us

Conversation with …

With tax season upon us, Tim recently reached out to his CPA, Tam Dang and had a conversation regarding how the 2018 Tax Cut and Job Act affects real estate:

Here are a few noteworthy topics worth sharing

-          Mortgage debt including home equity line of credit which is used to acquire, construct or improve a qualified residence is capped off at $750,000 for new loans.

-          For real estate investors, the deferral of capital gains tax is still available through like-kind exchange or 1031 tax-deferred exchanges but are limited to real property.

-          Qualified opportunity zones – taxpayers can exclude all or a portion of the capital gains from a sale of property if the gain is invested in a qualified opportunity zone. These zones are certified by the IRS and can be viewed at

However, California has not conformed to all these changes.

To get started with your home sale or purchase, call Tim Brodowski @ 858-354-2354, Luxury Property Specialist.