Tax Savings
How to Avoid Capital Gains Tax on Real Estate
The legal ways Long Island owners actually reduce or defer capital gains on real estate, from the Section 121 exclusion to a 1031 exchange, and what doesn't work.
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Capital Gains Tax on Investment Property
What triggers capital gains tax on an investment property sale in Long Island, how holding period and entity structure change the number, and how deferral works.
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Capital Gains Tax on Rental Property
How capital gains tax on a rental property is calculated on Long Island, why depreciation recapture makes the bill higher than owners expect, and the deferral option.
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Depreciation Recapture Tax
How depreciation recapture tax is calculated when a Long Island rental or investment property sells, why it's separate from capital gains, and how a 1031 exchange defers it.
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Capital Gains When Selling a House
When a Long Island home sale actually owes capital gains tax, how the Section 121 exclusion works, and what happens when the property was ever rented out.
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Section 121 Home Sale Exclusion
The rules behind the Section 121 exclusion for a Long Island primary residence sale, including the ownership and use tests, the frequency limit, and the exceptions.
ExploreCapital Gains Tax on a Second Home
Why a Hamptons or North Fork second home doesn't get the same tax treatment as a primary residence at sale, and what actually reduces the bill.
ExploreCapital Gains Tax on Inherited Property
How the stepped-up basis rule changes capital gains tax on an inherited Long Island house or rental, and what happens when siblings sell at different times.
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