At least 6-12 months before listing. Early planning allows time to evaluate §121 eligibility, consider conversion strategies (rental to primary or vice versa), explore 1031 exchange options, time the sale for optimal tax year treatment, and gather documentation for basis calculations. Starting tax planning after you receive an offer leaves no room for structural optimization - you are locked into whatever tax scenario exists at that moment.
This article provides general educational information only. It is not legal, tax, financial, insurance, compliance, housing, brokerage, or professional advice. Rules, tax rates, obligations, enforcement practices, and market conditions vary by property, building, contract, municipality, and jurisdiction, and they change. Sellers should consult a qualified attorney, CPA, or other appropriate professional before making decisions based on their specific situation.
From the seller playbook: Capital Gains Tax Planning for NYC Property Sales
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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