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werewolf34
ParticipantYes and no, I believe the 1st 500k in capital gains (appreciation on your house) is tax-free provided it is your primary residence for the last 3 or 5 yrs.
If this is not the case, you have 6 months to use your capital gains to buy another property before the govt takes long-term capital gains (15% tax). This is called a 1031 exchange
I am not an accountant or tax attorney so take it all with a grain of salt
ParticipantYes and no, I believe the 1st 500k in capital gains (appreciation on your house) is tax-free provided it is your primary residence for the last 3 or 5 yrs.
If this is not the case, you have 6 months to use your capital gains to buy another property before the govt takes long-term capital gains (15% tax). This is called a 1031 exchange
I am not an accountant or tax attorney so take it all with a grain of salt
ParticipantYes and no, I believe the 1st 500k in capital gains (appreciation on your house) is tax-free provided it is your primary residence for the last 3 or 5 yrs.
If this is not the case, you have 6 months to use your capital gains to buy another property before the govt takes long-term capital gains (15% tax). This is called a 1031 exchange
I am not an accountant or tax attorney so take it all with a grain of salt
ParticipantYes and no, I believe the 1st 500k in capital gains (appreciation on your house) is tax-free provided it is your primary residence for the last 3 or 5 yrs.
If this is not the case, you have 6 months to use your capital gains to buy another property before the govt takes long-term capital gains (15% tax). This is called a 1031 exchange
I am not an accountant or tax attorney so take it all with a grain of salt
ParticipantFormula is too simplistic. Written in 1998 when netscape ruled the internet world and the S&P was up 20% a yr for almost a decade.
Try getting that return now
ParticipantFormula is too simplistic. Written in 1998 when netscape ruled the internet world and the S&P was up 20% a yr for almost a decade.
Try getting that return now
ParticipantFormula is too simplistic. Written in 1998 when netscape ruled the internet world and the S&P was up 20% a yr for almost a decade.
Try getting that return now
ParticipantFormula is too simplistic. Written in 1998 when netscape ruled the internet world and the S&P was up 20% a yr for almost a decade.
Try getting that return now
ParticipantFormula is too simplistic. Written in 1998 when netscape ruled the internet world and the S&P was up 20% a yr for almost a decade.
Try getting that return now
October 29, 2009 at 2:02 PM in reply to: Thoughts on buying condo conversions – buy vs. rent? #475451ParticipantYou can get anything for a price I suppose. You would need to inspect the particular unit and have a general assessment of expensive condo-wide repairs (roofing, slabs, etc)
Personally I would also want to see the minutes and ledgers of the HOA to make sure they are not kicking the can down the road on repairs.
October 29, 2009 at 2:02 PM in reply to: Thoughts on buying condo conversions – buy vs. rent? #475628ParticipantYou can get anything for a price I suppose. You would need to inspect the particular unit and have a general assessment of expensive condo-wide repairs (roofing, slabs, etc)
Personally I would also want to see the minutes and ledgers of the HOA to make sure they are not kicking the can down the road on repairs.
October 29, 2009 at 2:02 PM in reply to: Thoughts on buying condo conversions – buy vs. rent? #475989ParticipantYou can get anything for a price I suppose. You would need to inspect the particular unit and have a general assessment of expensive condo-wide repairs (roofing, slabs, etc)
Personally I would also want to see the minutes and ledgers of the HOA to make sure they are not kicking the can down the road on repairs.
October 29, 2009 at 2:02 PM in reply to: Thoughts on buying condo conversions – buy vs. rent? #476065ParticipantYou can get anything for a price I suppose. You would need to inspect the particular unit and have a general assessment of expensive condo-wide repairs (roofing, slabs, etc)
Personally I would also want to see the minutes and ledgers of the HOA to make sure they are not kicking the can down the road on repairs.
October 29, 2009 at 2:02 PM in reply to: Thoughts on buying condo conversions – buy vs. rent? #476290ParticipantYou can get anything for a price I suppose. You would need to inspect the particular unit and have a general assessment of expensive condo-wide repairs (roofing, slabs, etc)
Personally I would also want to see the minutes and ledgers of the HOA to make sure they are not kicking the can down the road on repairs.
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