Money Meets Medicine

Should You Rent or Sell Your House When You Move?

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Becoming an accidental landlord could cost you a six-figure tax bill — or be the smartest move you make. You're finishing training, moving cities, and that house you bought a few years ago — the one with the enviably low mortgage — is suddenly a decision: sell it and pocket the equity, or rent it out and start building "passive income"? It sounds simple. It isn't. Dr. Jimmy Turner and Justin Harvey, CFP®, break down the real math behind renting vs. selling your home as a physician — and the IRS clock most people don't realize is already running.

What you'll learn:

  • How Section 121's $500K capital gains exclusion works — and the 2-out-of-5-year rule that quietly creates six-figure tax bills
  • Why "I have a 3% mortgage" is golden handcuffs, not a strategy
  • The honest cost of becoming an accidental landlord — property management, the 1% maintenance rule, the curveballs
  • When renting during a fellowship is a smart, low-risk way to test landlording
  • Why real estate tax breaks aren't free — what 1031s and "die-with-it" actually require

    • Resources

    • 1099 Doc, locums, or private practice partner? Upgrade your CPA with Gelt (the tax strategy team Jimmy uses). Use this link to get a 10% discount when working with Gelt: https://moneymeetsmedicine.com/CPA 
    • Get Disability Insurance from Money Meets Medicine Disability Insurance — moneymeetsmedicine.com/disability
    • Have a question you want discussed on the show? Email me at [email protected]

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      Money Meets MedicineBy Doctor Podcast Network, Jimmy Turner MD
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