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How well do you know these real etate tax topics?

A quick assessment to help us develop on-point education. 

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Question 1 of 5

A 1031 like-kind-exchange can be utilized on the sale of which of the following? 

A

A rental property

B

A Primary home

C

A house renovated to re-sell for profit

D

All of the above

Question 2 of 5

The only way for a taxpayer to deduct passive rental losses is by qualifying as a real estate professional

A

False

B

True

Question 3 of 5

The 121 Primary Home Sale Exclusion can ONLY be utilized once every two years?

A

True

B

False

Question 4 of 5

A property that is acquired to renovate and re-sell for profit (flip) is taxed in which way? (select the best answer)

A

Long Term Capital Gains if Held > 1 year

B

Ordinary Business Income

C

Ordinary business Income if th client has Real Estate professional Status

D

None of the above

Question 5 of 5

What Real Estate Tax topic do you understand the least and why?

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