Jul 31, 2015
5:27:54pm
5:27:54pm
You won't owe additional taxes on it (unless
the state you're in doesn't have that exception, but you definitely won't owe federal taxes on it).
Even if you did owe taxes, the amount of equity wouldn't be part of the equation. Just what you purchased it for and what you sell it for (minus the cost of any improvements you made to the property).
You should pocket close to the sale price minus what you owe the bank minus real estate agent fees.
Even if you did owe taxes, the amount of equity wouldn't be part of the equation. Just what you purchased it for and what you sell it for (minus the cost of any improvements you made to the property).
You should pocket close to the sale price minus what you owe the bank minus real estate agent fees.
- New username
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- BertoChavez
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