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  • February 9, 2009 at 5:28 PM in reply to: Tell me what to do #343483
    DataAgent
    Participant

    Please consider renting your place. Here’s why:
    1. Losses on a personal residence are not tax deductible.
    2. Losses from rental property are tax deductible.

    Pay for some solid advice from a good tax accountant. Not H&R Block. Your situation is much more complicated than they can handle.

    It may be possible to:
    1. Convert your property to a rental for a few years.
    2. Deduct the loss when you sell it.
    3. Loss is defined as: original purchase price
    PLUS all improvements MINUS selling price.

    Your loss could make a nice tax deduction in a year when you get a big bonus from your new job.

    Good luck.

    February 9, 2009 at 5:28 PM in reply to: Tell me what to do #343804
    DataAgent
    Participant

    Please consider renting your place. Here’s why:
    1. Losses on a personal residence are not tax deductible.
    2. Losses from rental property are tax deductible.

    Pay for some solid advice from a good tax accountant. Not H&R Block. Your situation is much more complicated than they can handle.

    It may be possible to:
    1. Convert your property to a rental for a few years.
    2. Deduct the loss when you sell it.
    3. Loss is defined as: original purchase price
    PLUS all improvements MINUS selling price.

    Your loss could make a nice tax deduction in a year when you get a big bonus from your new job.

    Good luck.

    February 9, 2009 at 5:28 PM in reply to: Tell me what to do #343911
    DataAgent
    Participant

    Please consider renting your place. Here’s why:
    1. Losses on a personal residence are not tax deductible.
    2. Losses from rental property are tax deductible.

    Pay for some solid advice from a good tax accountant. Not H&R Block. Your situation is much more complicated than they can handle.

    It may be possible to:
    1. Convert your property to a rental for a few years.
    2. Deduct the loss when you sell it.
    3. Loss is defined as: original purchase price
    PLUS all improvements MINUS selling price.

    Your loss could make a nice tax deduction in a year when you get a big bonus from your new job.

    Good luck.

    February 9, 2009 at 5:28 PM in reply to: Tell me what to do #343940
    DataAgent
    Participant

    Please consider renting your place. Here’s why:
    1. Losses on a personal residence are not tax deductible.
    2. Losses from rental property are tax deductible.

    Pay for some solid advice from a good tax accountant. Not H&R Block. Your situation is much more complicated than they can handle.

    It may be possible to:
    1. Convert your property to a rental for a few years.
    2. Deduct the loss when you sell it.
    3. Loss is defined as: original purchase price
    PLUS all improvements MINUS selling price.

    Your loss could make a nice tax deduction in a year when you get a big bonus from your new job.

    Good luck.

    February 9, 2009 at 5:28 PM in reply to: Tell me what to do #344038
    DataAgent
    Participant

    Please consider renting your place. Here’s why:
    1. Losses on a personal residence are not tax deductible.
    2. Losses from rental property are tax deductible.

    Pay for some solid advice from a good tax accountant. Not H&R Block. Your situation is much more complicated than they can handle.

    It may be possible to:
    1. Convert your property to a rental for a few years.
    2. Deduct the loss when you sell it.
    3. Loss is defined as: original purchase price
    PLUS all improvements MINUS selling price.

    Your loss could make a nice tax deduction in a year when you get a big bonus from your new job.

    Good luck.

  • Author
    Posts
Viewing 5 posts - 2,356 through 2,360 (of 2,360 total)
1 2 3 … 156 157 158