Texas property owners have witnessed extraordinary property appreciation since 2011, driven in part by buyers migrating from states like California to avoid high 税es. According to a May 2019 Legg Mason commercial real estate report on the rise of the Sunbelt, Texas led the nation in domestic migration measured over a 10-year period from 2008 thru 2018. 行业预测，到2030年，德州仍将是人口增长的领头羊, 远远超过第二名佛罗里达州.
How Increased Migration Is Affecting Texas Property Values
The growth in domestic migration has benefited Texas property owners, 需求超过了供给, 导致价格上涨.
In the luxury-home market, Austin, Dallas, Houston, and San Antonio rank in the top 40 of U.S. cities with the highest percentage of million-dollar homes, 根据2018年7月LendingTree的报告. 2018年前10个月，德克萨斯州的豪宅销售是德克萨斯州2021十大正规彩票app市场的强劲推动力, 根据德州2021十大正规彩票app经纪人® 2018年德克萨斯州豪华住宅销售报告. 德州豪宅的中位价为1美元.35 million, with the average price per square foot at $358.
The April 2019 Home Price Index report from the Real Estate Center at Texas A&M大学报告的数据支持德克萨斯州2021十大正规彩票app需求和房价升值的增长远远超出了四个最大的都市区. 当然, no one has recognized these trends better than REALTORS®, who continue to play a pivotal role in facilitating these transactions throughout the state.
当高房价损害了业主的底线
While homeowners welcome the benefits associated with higher property values and increasing equity, 房价上涨的同时，一些业主也清醒地认识到，出售房产的税收影响可能高得令人无法接受.
Even with the Internal Revenue Code (IRC) 121 exclusion of gain from sale of principal residence up to $250,单一纳税人为$ 5,000及$500,000 for married couples on principal residences owned for at least two years, 如果实现的收益远远超过房产的调整基数，并且远远超出国税局的免税限额，那么出售的结果仍可能导致显著的资本收益. 许多拥有调整税基较低的昂贵物业的业主选择将物业租赁多年，以避免在交割时实现资本利得.
1031交换如何使卖方受益
您可能熟悉IRC 1031交易规则，因为它们适用于住宅和商业投资2021十大正规彩票app, 但很少有人意识到将主要住宅转换为出租物业的机会，然后通过将IRC 121与IRC 1031结合起来，有资格获得第1031条的交换.
如果在出售房产之前的五年内，主要住宅已经被出租了两年, 业主可以将他们的房产换成另一处房产，如果置换房产用于投资，则可以推迟资本收益.
根据IRC第1031条, 投资性房产的所有者可以将持有的同等或更高价值的同类房产交换用于贸易或商业生产, 或者用于投资.
Like-kind properties don’t have to be the same type as the property being sold to qualify. They can include raw land, single-family houses, apartments, commercial properties, and so forth. 在某些条件下, 石油, 气体, and mineral rights qualified as real property may also be able to benefit from an exchange.
如果度假和第二套住房在一年中以公平的市场价值租赁了一段合格的时间，也可能符合安全港的规定. Given the complexity and the risks of failing to adhere to strict IRS guidelines, 代理商应2021十大正规彩票app其客户在考虑任何此类交易之前寻求税务和法律咨询.
1031交换完成后的结果
在一个合格的1031交易所, property owners can defer paying federal and state capital gains 税es to include depreciation recapture. The exchange process must prevent actual or constructive receipt of funds and, 像这样, 是否经常通过专业合格中介的服务来管理复杂的流程. 许多律师和税务专业人士以及大型国家财产交易公司从事这项服务.
While a new opportunity to list a property for sale that otherwise would have remained a rental is apparent, 一些物业业主可能不愿意主动管理一个新的，但未知的交换物业, electing instead to keep their current residence as a rental. 然而, passive exchange alternatives exist which don’t involve active property management, 然而，这些替代方案仍然提供了与积极的财产所有权和管理相关的许多相同的风险和回报.
被动交换选项的类型
两种被动交换选择包括交换到合格机会区基金或特拉华州法定信托(DST).
合格机会区
合格的机会区由州政府提名，并经财政部认证，被指定为经济困难和需要改善经济发展的地区. 该基金投资于开发区发展, 投资者有机会从社区的潜在增长中获益，通过更高的资产价值和与基金投资相关的回报.
特拉华州法定信托(DST)
DST property exchange offerings are limited to accredited investors as defined by the U.S. 美国证券交易委员会(SEC). They offer investors a fractional beneficial interest in large, institutional quality and professionally managed commercial properties. 这种类型的利益的好处是，小投资者可以将债务和股权交换为通常仅限于机构投资者的财产类型，而无需承担积极管理或参与的负担. Investors in DST offerings will not have any management or operational control.
DSTs和合格机会区基金都可以为投资者的投资组合提供出色的回报，但它们具有高度的投机性，并带来巨大的风险. Your clients should be advised to seek legal, 税, and investment advice prior to investing.
As property values continue to climb and baby boomers seek to downsize, many owners will seek your advice on how to achieve their desired real estate objectives. 面对潜在的可观资本收益的所有者可能没有意识到有可能转换为主动管理或被动的部分受益财产权益. 在征用权下被征用的财产的所有者也可以根据IRC 1033非自愿转换发起类似的交换, 并且还会从合理的2021十大正规彩票app中获益. 为客户提供有价值的见解和选择的能力将进一步证明为客户提供最佳利益的承诺.
本文中的信息仅供参考，不应被解释为投资2021十大正规彩票app或对未来结果的保证，也不构成买卖证券的招揽. Interested parties should seek the advice of their legal, 税, and financial advisors prior to making any investment decisions.