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I have a few questions on selling houses that I have lived
Hi, I have a few questions on selling houses that I have lived in. I have read information about living in home for 2 of the past 10 years can excuse you from paying taxes on the sale. Trying to get m… read more
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I have rental property that I lived in for 6 years but have been renting out for the past 8 years that I am now selling. I was hoping to take proceeds and pay off current resident mortgage. Will I hav… read more
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Will I owe capital gains taxes on the sale of my home
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Chad EA, CDFA®, CFP®
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8 years ago I tried to sell my home thay I lived in. The
8 years ago I tried to sell my home thay I lived in. The people that bought it wanted it on a lease to buy within that next year. It has taken 8 years for them to actually purchase it, in the meantime… read more
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There is a question I need to know I own and renting the
There is a question I need to know I own and renting the property and in America it is being depreciated. There for I will not pay tax on the income, very little.However in the UK depreciating an asse… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I have rented the property for about 8 years and am selling
I have rented the property for about 8 years and am selling it for a loss. we purchased the property for approx. $585K and selling it for $522K. When I fill out the Form 593-E it does not come out to … read more
Robin D.
Robin D.
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We plan to sell our home in 2-3 years, and we have an in-law
we plan to sell our home in 2-3 years, and we have an in-law rental apartment, and I want to make sure we can still deduct the 500k of the profits, (though we will need to account for the rental someh… read more
Mark Taylor
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My husband and I just sold our 2 family home 2 weeks ago.
My husband and I just sold our 2 family home 2 weeks ago. For many years we rented one side of our two family home. We've just sold it for $650,000. We originally paid $180,000. We have refinanced sev… read more
Robin D.
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I have a Home Equity HELOC loan. Interest rate for this loan
I have a Home Equity HELOC loan. Interest rate for this loan is about 4.5%. I understand that the interest is tax deductible. Is that correct? If so - is it 100% tax deductible - or what %? I still ow… read more
Robin D.
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I HAVE OWNED A RENTAL HOUSE SINCE 2000, AND LOOKING BACK
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This is ***** ***** Thornton. We've been corresponding. Did
Hi, this is ***** ***** Thornton. We've been corresponding. Did you get the file containing my form? … read more
Robin D.
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My wife and I lived and owned my house than 7 years. Now it
My wife and I lived and owned my house for more than 7 years. Now it has appreciated about 500k. I am planning to rent it out for a year or so then sell when the market is better. Some (nolo and my mo… read more
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I am confused as to whether my accountant is doing the right
I am confused as to whether my accountant is doing the right thing or not for my taxes. I have some commercial property that I've owned for the last 10 years. The property for the most part was a bad … read more
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I have a house that I used as a primary residence but recently
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Ive been the owner of a rental property for 19 years and have
I've been the owner of a rental property for 19 years and have been filing my own tax returns the whole time. Unfortunately, I've completely messed up the calculation of my depreciation for about 14 o… read more
Lev
Lev
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I need your advice on converting a rental to personal use and
I need your advice on converting a rental to personal use and then back to a rental. I purchased a condo in 2006 and it has been a rental the entire time. I am familiar with the IRS rules and have use… read more
jgordosea
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Ive been renting a room in my house to a housemate for last
I've been renting a room in my house to a housemate for last year and this year. I've reported it, and done all the "depreciation" stuff as necessary. But, I'm not going to rent out the room any longe… read more
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