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sdduuuude
ParticipantBecause people would learn that making the wrong decision is OK and thus they would learn nothing.
ParticipantMy favorite thing about temeculaguy is that he is not powayseller.
ParticipantMy favorite thing about temeculaguy is that he is not powayseller.
ParticipantMy favorite thing about temeculaguy is that he is not powayseller.
ParticipantJennyo – please make sure you spend some time with an accountant on the tax implications of this. Inheiritance, cap gains, cap losses – its complicated. Better to know going in that after the fact. This forum is no place for tax advice – you never know who is telling you stuff.
I am under the impression that you could take capital losses in one year to offset capital gains in future years. Again – I’m not sure about that, but make sure you ask a real accountant, OK?
ParticipantJennyo – please make sure you spend some time with an accountant on the tax implications of this. Inheiritance, cap gains, cap losses – its complicated. Better to know going in that after the fact. This forum is no place for tax advice – you never know who is telling you stuff.
I am under the impression that you could take capital losses in one year to offset capital gains in future years. Again – I’m not sure about that, but make sure you ask a real accountant, OK?
ParticipantJennyo – please make sure you spend some time with an accountant on the tax implications of this. Inheiritance, cap gains, cap losses – its complicated. Better to know going in that after the fact. This forum is no place for tax advice – you never know who is telling you stuff.
I am under the impression that you could take capital losses in one year to offset capital gains in future years. Again – I’m not sure about that, but make sure you ask a real accountant, OK?
ParticipantSharkey – I think that is the right kind of analysis to do.
How much monthly income would you get get (pre-tax) if you put the net sale proceeds into the bank. That math shows it a “close” decision – i.e. they’ll be fine either way. I mean, when someone gives you a house and you have no house payment, it is a no-lose decision. You either get $1200/month of revenue (less income tax) or a $250K windfall (less $60K for cap gain tax).
Also – vrundy. If they do sell, I agree that is the best strategy. Take two weeks to a month to clean it up, spend $5 – $10K, spend some time looking at comps, undercut them, get an agent who knows what they are doing.
You can’t write-off capital losses, but they can offset other capital gains, if they exist.
D
ParticipantSharkey – I think that is the right kind of analysis to do.
How much monthly income would you get get (pre-tax) if you put the net sale proceeds into the bank. That math shows it a “close” decision – i.e. they’ll be fine either way. I mean, when someone gives you a house and you have no house payment, it is a no-lose decision. You either get $1200/month of revenue (less income tax) or a $250K windfall (less $60K for cap gain tax).
Also – vrundy. If they do sell, I agree that is the best strategy. Take two weeks to a month to clean it up, spend $5 – $10K, spend some time looking at comps, undercut them, get an agent who knows what they are doing.
You can’t write-off capital losses, but they can offset other capital gains, if they exist.
D
ParticipantSharkey – I think that is the right kind of analysis to do.
How much monthly income would you get get (pre-tax) if you put the net sale proceeds into the bank. That math shows it a “close” decision – i.e. they’ll be fine either way. I mean, when someone gives you a house and you have no house payment, it is a no-lose decision. You either get $1200/month of revenue (less income tax) or a $250K windfall (less $60K for cap gain tax).
Also – vrundy. If they do sell, I agree that is the best strategy. Take two weeks to a month to clean it up, spend $5 – $10K, spend some time looking at comps, undercut them, get an agent who knows what they are doing.
You can’t write-off capital losses, but they can offset other capital gains, if they exist.
D
Participant… if you like humidity and bugs.
Participant… if you like humidity and bugs.
Participant… if you like humidity and bugs.
August 9, 2007 at 2:15 PM in reply to: Nationally televised news program needs family facing forclosure for story #72353ParticipantSo, a guy with the name “San Diego REO Agent” wants to hear from people facing foreclosure.
Sounds like someone trying to drum up business to me. I’d be surprised if there really is a show.
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