I need to Know wich one if the right rule for taxes when you sale a home, The 1031 exchange or 500.000 $ tax free ? Please send all the information you can about it null
The 2 situations you describe are like night and day. One if for primary residence and the other is for an "investment" asset. If you sell your primary residence, and meet the requirements, you can take up to 500K of the profit tax free. If you sell an investment property and meet the requirements, you can roll-over your profits into another investment (e.g. defer your taxes)
I think you are selling your primary residence from the way you worded your question. If so, you are allowed 250K deduction for a single person or a 500K deduction if married on the profit on the house. This is a Section 121 deduction.
Thank you for your information cjmazur, can you let me know where I can find more information about If selling an investment property and meet the requirements.
null 
The 2 situations you describe are like night and day. One if for primary residence and the other is for an "investment" asset.
If you sell your primary residence, and meet the requirements, you can take up to 500K of the profit tax free.
If you sell an investment property and meet the requirements, you can roll-over your profits into another investment (e.g. defer your taxes)
I think you are selling your primary residence from the way you worded your question.
If so, you are allowed 250K deduction for a single person or a 500K deduction if married on the profit on the house. This is a Section 121 deduction.
Thank you for your information cjmazur, can you let me know where I can find more information about If selling an investment property and meet the requirements.