Q: I own a six-unit apartment building, in which my wife and I have a large profit. If we make an outright sale, we will owe a huge capital gain tax. My wife remembered an item in your column saying we could make a tax-deferred trade of the apartment building for our dream home, then we could sell the house in a few years to claim $500,000 tax-free profits. Is there a minimum holding time for the house?

A: Yes. You first can make an Internal Revenue Code 1031(a)(3) Starker tax-deferred exchange of your apartment building for your dream home. However, please remember the basic Starker exchange rules:

For homeowners around the country who are seriously delinquent on their mortgages and hoping for relief, the IRS has bad news: If your lender agrees to modify your loan and forgive any part of your debt, you could owe federal income taxes on the amount forgiven.Think of it as the tax code’s “kick-’em-while-they’re-down” rule. When personal debts are canceled by a creditor, the amount forgiven is treated as ordinary income unless the taxpayer is insolvent or bankrupt. Worse yet, the lender is required by law to report the amount canceled to the IRS.

The amount you pay in real estate commissions is not set in stone. However, the art of negotiating commissions can extend beyond simply dropping the number on the listing agreement below the customary 6 percent.

According to residential real estate author, broker and columnist Mark Nash, here are some creative ways sellers can add to their bottom line, and perhaps more importantly, get the deal done:

– Ask your agent to cover some of the cost of preparing your house for sale. It’s already common practice for your agent to cover the marketing costs associated with your property, which can include creating sales sheets and brochures, developing and placing ads in the local newspaper, and even creating a Web site that features your house.

Q: I rent a three-bedroom home. I pay a gardener $60 per month to cut the grass and shrubbery. It seems odd to me that I should pay for this when I don’t even own the house. Who is responsible for lawn and garden maintenance of my rental home, me or the landlord?

Property Manager Robert Griswold replies: There are no laws regarding who is responsible for taking care of the grounds. It is subject to negotiation between the parties.