It is a great income tax planning strategy when you have a highly
appreciated primary residence.
Not exact matches
In reviewing their assets, donors often find that real estate, whether their
primary residence or vacation home, has
appreciated more than their other assets.
As many readers have pointed out: while their
primary residence may have
appreciated significantly over the last couple of decades, so did the price of smaller homes.
By not being attached to the
primary residence or the furnishings, but being willing to reinvest every few years in an
appreciating market, my friend found the solution to holding to his values and still having a home appropriate for entertaining out of town guest speakers, interim pastors, and other visitors!
For example on my
primary residence, I pay only about.6 % of its value, because it has
appreciated quite a lot over the 15 years I have owned it.