no taxes

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Jul 31, 2015
5:25:19pm

azmbacougar

no taxes

Since you've lived in it for longer than 2 years - no taxes on the gain on sale (difference between selling price and whatever you paid for it)

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azmbacougar

Bio page: azmbacougar
Joined: Dec 7, 2011
Last login: May 23, 2024
Total posts: 733 (0 FO)

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Messages

Author

Time

BYU MBA

BlueBull

7/31/15 5:01pm

How long did you own it?

AudiS4

7/31/15 5:03pm

If you've had it more than 2 years, 0. Otherwise you're only taxed on the

BertoChavez

7/31/15 5:09pm

Amount of equity is immaterial

DrBYU

7/31/15 5:11pm

RE: BYU MBA

BlueBull

7/31/15 5:19pm

no taxes

azmbacougar

7/31/15 5:25pm

That assumes that the house is his primary residence

donnerstag

7/31/15 5:30pm

You won't owe additional taxes on it (unless

BertoChavez

7/31/15 5:27pm

If it fits the exemption, he won't even have to report the gain on his taxes

donnerstag

7/31/15 5:31pm

Why? With how low rates are these days, why don't you just use

Kerbouchard

7/31/15 6:02pm

Or you could invest it in a cash producing vehicle

juicedhunts

7/31/15 6:10pm

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