Episode 279: Real Estate & Taxes

Published: June 28, 2022, 12:52 p.m.

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According to a survey from Realtor.com, around 12% of baby boomers plan to sell their homes in the next year \\u2013 a larger share than any other generation surveyed. They are a generation rich with real estate. In fact, according to Federal Reserve data, boomers surpassed the Silent Generation in real estate wealth in 2001. You can read more in the New York Times article, \\u201cBaby Boomers: Rich With Real Estate and Not Letting Go.\\u201d To deepen the conversation, it\\u2019s important to remember that the Silent Generation and the Baby Boomers, upon their death, will transfer an estimated $30 to $68 trillion to adult children.

Can you say, \\u201cWowzer\\u201d?

Good thing we have a tax man, Jon Sluis with us today who can translate the implication of inheriting real estate, joint tenancy, recapture rates and selling commercial property for retirement income. This is a show you won\\u2019t want to miss \\u2013 especially if you\\u2019re investments are in land.

Tune in and take control. It\\u2019s all fun and games until you must pay the government \\u2026 again!

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