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Jul 31, 2015
5:19
:43
pm
BlueBull
RE: BYU MBA
I will have owned the home for 7 years and I've made about 40K before school starts.
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BlueBull
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BlueBull
Joined
Jul 24, 2015
Last login
May 10, 2024
Total posts
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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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