The worksheet we've developed is a way to get a good overview of your property holdings. With it, we can calculate:

1. Taxes if you sell a particular property, taking into account your cost basis, depreciation recapture (straight line is assumed), and primary residence exemptions (taking into account the number of owners).

2. A very rough estimate of your estate tax exposure, due to your real property holdings.

3. A way to quickly judge which assets represent the most tax exposure, which make them good candidates to particpate in one of the many tax deferral vehicles we talk about.

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