BYU MBA

Jul 31, 2015
5:01:08pm

BlueBull

BYU MBA

I am planning on selling my home and using the equity to pay for grad school. Does anyone know what kind of taxes I am looking at paying?
I have about $60k in equity...

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BlueBull

Bio page: BlueBull
Joined: Jul 24, 2015
Last login: May 3, 2024
Total posts: 184 (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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