Home › Forums › Financial Markets/Economics › rumor about capital gain exclusion for primary residence
- This topic has 50 replies, 7 voices, and was last updated 16 years, 3 months ago by
(former)FormerSanDiegan.
-
AuthorPosts
-
August 8, 2008 at 3:24 PM #13560August 8, 2008 at 4:14 PM #254799
PadreBrian
ParticipantSounds fishy. We would talked that one to death here if it was true. I’ll keep an eye out.
August 8, 2008 at 4:14 PM #254972ParticipantSounds fishy. We would talked that one to death here if it was true. I’ll keep an eye out.
August 8, 2008 at 4:14 PM #255085ParticipantSounds fishy. We would talked that one to death here if it was true. I’ll keep an eye out.
August 8, 2008 at 4:14 PM #254978ParticipantSounds fishy. We would talked that one to death here if it was true. I’ll keep an eye out.
August 8, 2008 at 4:14 PM #255036ParticipantSounds fishy. We would talked that one to death here if it was true. I’ll keep an eye out.
August 8, 2008 at 4:36 PM #255039BGinRB
ParticipantPartially correct.
It applies to houses purchased after the end of this year:
http://online.wsj.com/article/SB121798585043615583.html?mod=googlenews_wsjAugust 8, 2008 at 4:36 PM #255091ParticipantPartially correct.
It applies to houses purchased after the end of this year:
http://online.wsj.com/article/SB121798585043615583.html?mod=googlenews_wsjAugust 8, 2008 at 4:36 PM #254983ParticipantPartially correct.
It applies to houses purchased after the end of this year:
http://online.wsj.com/article/SB121798585043615583.html?mod=googlenews_wsjAugust 8, 2008 at 4:36 PM #254977ParticipantPartially correct.
It applies to houses purchased after the end of this year:
http://online.wsj.com/article/SB121798585043615583.html?mod=googlenews_wsjAugust 8, 2008 at 4:36 PM #254804ParticipantPartially correct.
It applies to houses purchased after the end of this year:
http://online.wsj.com/article/SB121798585043615583.html?mod=googlenews_wsjAugust 8, 2008 at 5:13 PM #255007(former)FormerSanDiegan
ParticipantIt applies to houses purchased after the end of this year:
Actually it applies to SALES after the end of this year. It applies to ALL homes, even those bought before 2009. However the clock for counting the number of days of non-qualified use starts Jan 1, 2009.
The taxable gain is Dnon/Dtot
where Dnon is the number of days of non-qualified use after Jan 1, 2009. Dtot is the total number of days used (assuming you lived in it as a primary residence in 2 out of 5 years).Details outlined here under item #3.
http://tinyurl.com/58q586I am sure people will be confused by this for the next several years. I bet that they eventually just “simplify” it in a way that results in higher taxes.
August 8, 2008 at 5:13 PM #255013ParticipantIt applies to houses purchased after the end of this year:
Actually it applies to SALES after the end of this year. It applies to ALL homes, even those bought before 2009. However the clock for counting the number of days of non-qualified use starts Jan 1, 2009.
The taxable gain is Dnon/Dtot
where Dnon is the number of days of non-qualified use after Jan 1, 2009. Dtot is the total number of days used (assuming you lived in it as a primary residence in 2 out of 5 years).Details outlined here under item #3.
http://tinyurl.com/58q586I am sure people will be confused by this for the next several years. I bet that they eventually just “simplify” it in a way that results in higher taxes.
August 8, 2008 at 5:13 PM #255070ParticipantIt applies to houses purchased after the end of this year:
Actually it applies to SALES after the end of this year. It applies to ALL homes, even those bought before 2009. However the clock for counting the number of days of non-qualified use starts Jan 1, 2009.
The taxable gain is Dnon/Dtot
where Dnon is the number of days of non-qualified use after Jan 1, 2009. Dtot is the total number of days used (assuming you lived in it as a primary residence in 2 out of 5 years).Details outlined here under item #3.
http://tinyurl.com/58q586I am sure people will be confused by this for the next several years. I bet that they eventually just “simplify” it in a way that results in higher taxes.
August 8, 2008 at 5:13 PM #254835ParticipantIt applies to houses purchased after the end of this year:
Actually it applies to SALES after the end of this year. It applies to ALL homes, even those bought before 2009. However the clock for counting the number of days of non-qualified use starts Jan 1, 2009.
The taxable gain is Dnon/Dtot
where Dnon is the number of days of non-qualified use after Jan 1, 2009. Dtot is the total number of days used (assuming you lived in it as a primary residence in 2 out of 5 years).Details outlined here under item #3.
http://tinyurl.com/58q586I am sure people will be confused by this for the next several years. I bet that they eventually just “simplify” it in a way that results in higher taxes.
-
AuthorPosts
- You must be logged in to reply to this topic.