Tax Strategies
Capital gains and depreciation questions Illinois sellers ask first
Straight answers on capital gains, depreciation recapture, inherited property, and home-sale exclusions for Illinois owners deciding whether a 1031 exchange fits their sale.
How to Avoid Capital Gains Real Estate
A realistic look at how Illinois owners reduce or defer capital gains tax on real estate, including where a 1031 exchange fits among the actual options.
Tax StrategiesCapital Gains Tax on Investment Property
A breakdown of the taxes an Illinois investor actually owes on selling investment property, including the net investment income tax, and how deferral works.
Tax StrategiesCapital Gains Tax on Rental Property
How capital gains tax on rental property works for Illinois landlords, what depreciation recapture adds to the bill, and how a 1031 exchange changes the timing.
Tax StrategiesDepreciation Recapture Tax
How depreciation recapture tax is calculated when an Illinois investor sells real estate, why it is often bigger than expected, and how to defer it.
Tax StrategiesCapital Gains When Selling a House
What Illinois homeowners actually owe in capital gains tax when selling a house, how the Section 121 exclusion works, and when it does not apply.
Tax StrategiesSection 121 Exclusion
A closer look at the Section 121 exclusion rules for Illinois homeowners, including partial exclusions, nonqualified use, and edge cases that trip people up.
Tax StrategiesCapital Gains Tax on Inherited Property
How the stepped-up basis rule changes capital gains tax on inherited Illinois real estate, and when heirs can use a 1031 exchange on the property they receive.
Tax StrategiesCapital Gains Tax on Second Home
How capital gains tax works on a second home or vacation property in Illinois, why the primary residence exclusion usually does not apply, and what does.