You have likely read our articles on the possible benefits of selling your home to an S corporation that you create to

preserve your $250,000/$500,000 home-sale federal income tax exclusion,

convert the home to a rental property, and

increase the depreciable basis in the rental property by the tax-free home-sale exclusion.

Let’s say you have done that. Your old home is now a rental property inside your S corporation.

What good or bad things happen when you die (other than the death part, of course)? Here are two answers to two related questions—and you will like them. ... Log in to view full article.