Selling your house

[S T]

Real Estate in a Corporation

I thought that a Corporation owning real estate was not a good idea? Is this a tax avoidance scheme?

I found a website that is outlining much the same scenario as you posted.

I would say if it sounds too good to be true, it probably is!

Sandy

[veritas]

to your C Corporation?

What if you had a C Corporation which has ceased operating an activity and has accumulated cash an you want to get it out tax free.

And you wish to sell your home to downsize or move.

You sell the home for full market value and exclude the gain up to $500k and you pay no tax upon receiving the cash which would have been treated as dividends. The corporation now rents out the property with a higher value than the taxpayer and receives larger depreciaton deductions.

Crazy?