Menu

Home › Forums › Closed Forums › Buying and Selling RE › New tax laws for 2009

Viewing 15 posts - 1 through 15 (of 56 total)
1 2 3 4
  • Author
    Posts
  • October 26, 2008 at 12:13 PM #14299
    cashflow
    Participant

    I just realized that the tax law for selling RE is changing in ’09. I don’t however understand all implications of this (will be calling our tax guy tomorrow).

    However in the meantime, anyone else on here look into this? I guess it was included in the housing bill. For any properties bought starting in 2009, if you go to sell primary residence it is now taxed at a percentage?!?

    October 26, 2008 at 12:42 PM #293178
    Eugene
    Participant

    I think there was a change that makes you pay tax on the sale of a RE property if it was an investment property for any period of time. The tax is proportional to the duration of the period it was an investment property. Before, you could keep a rental property for 10 years, move in, live in it 2 years as a primary residence, and then sell with no tax consequences. I may be wrong.

    October 26, 2008 at 12:42 PM #293577
    Eugene
    Participant

    I think there was a change that makes you pay tax on the sale of a RE property if it was an investment property for any period of time. The tax is proportional to the duration of the period it was an investment property. Before, you could keep a rental property for 10 years, move in, live in it 2 years as a primary residence, and then sell with no tax consequences. I may be wrong.

    October 26, 2008 at 12:42 PM #293503
    Eugene
    Participant

    I think there was a change that makes you pay tax on the sale of a RE property if it was an investment property for any period of time. The tax is proportional to the duration of the period it was an investment property. Before, you could keep a rental property for 10 years, move in, live in it 2 years as a primary residence, and then sell with no tax consequences. I may be wrong.

    October 26, 2008 at 12:42 PM #293530
    Eugene
    Participant

    I think there was a change that makes you pay tax on the sale of a RE property if it was an investment property for any period of time. The tax is proportional to the duration of the period it was an investment property. Before, you could keep a rental property for 10 years, move in, live in it 2 years as a primary residence, and then sell with no tax consequences. I may be wrong.

    October 26, 2008 at 12:42 PM #293541
    Eugene
    Participant

    I think there was a change that makes you pay tax on the sale of a RE property if it was an investment property for any period of time. The tax is proportional to the duration of the period it was an investment property. Before, you could keep a rental property for 10 years, move in, live in it 2 years as a primary residence, and then sell with no tax consequences. I may be wrong.

    October 26, 2008 at 12:57 PM #293197
    Veritas
    Participant

    I think it might also apply to vacation homes if they are rented out.

    October 26, 2008 at 12:57 PM #293597
    Veritas
    Participant

    I think it might also apply to vacation homes if they are rented out.

    October 26, 2008 at 12:57 PM #293523
    Veritas
    Participant

    I think it might also apply to vacation homes if they are rented out.

    October 26, 2008 at 12:57 PM #293550
    Veritas
    Participant

    I think it might also apply to vacation homes if they are rented out.

    October 26, 2008 at 12:57 PM #293561
    Veritas
    Participant

    I think it might also apply to vacation homes if they are rented out.

    October 26, 2008 at 2:05 PM #293594
    SD Realtor
    Participant

    I think that within the next two years you will see a major change in the tax laws regarding the sale of your primary residence.

    My advice would be… watch out.

    October 26, 2008 at 2:05 PM #293642
    SD Realtor
    Participant

    I think that within the next two years you will see a major change in the tax laws regarding the sale of your primary residence.

    My advice would be… watch out.

    October 26, 2008 at 2:05 PM #293606
    SD Realtor
    Participant

    I think that within the next two years you will see a major change in the tax laws regarding the sale of your primary residence.

    My advice would be… watch out.

    October 26, 2008 at 2:05 PM #293568
    SD Realtor
    Participant

    I think that within the next two years you will see a major change in the tax laws regarding the sale of your primary residence.

    My advice would be… watch out.

  • Author
    Posts
Viewing 15 posts - 1 through 15 (of 56 total)
1 2 3 4
  • The forum ‘Buying and Selling RE’ is closed to new topics and replies.