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  Topic: Selling 2nd House... TAX Implications ?
Katmandu

Replies: 5
Views: 23364

Post image iconForum: Taxes   Posted: Fri Nov 11, 2011 10:33 pm   Subject: Selling 2nd House... TAX Implications ?
It was a HUD foreclosure that we bought real cheap. Pretty lucky.

You've owned it for more than one yr so your gains are longterm capital gains. Add your original cost, your reno costs, all improv ...
  Topic: Selling 2nd House... TAX Implications ?
Katmandu

Replies: 5
Views: 23364

Post image iconForum: Taxes   Posted: Mon Sep 26, 2011 12:11 am   Subject: Selling 2nd House... TAX Implications ?
Thanks coaster.

It was a HUD foreclosure that we bought real cheap. Pretty lucky.
  Topic: Selling 2nd House... TAX Implications ?
Katmandu

Replies: 3
Views: 5820

Post image iconForum: Real Estate   Posted: Sat Sep 24, 2011 2:13 pm   Subject: Selling 2nd House... TAX Implications ?
Thanks for your reply.

So the profit would of course be added to my income and the Capital gains rate be based on that ?
  Topic: Selling 2nd House... TAX Implications ?
Katmandu

Replies: 5
Views: 23364

Post image iconForum: Taxes   Posted: Sat Sep 24, 2011 11:09 am   Subject: Selling 2nd House... TAX Implications ?
We have a 2nd house that we bought and renovated over the last couple years. My wife and I were going to downsize and move into it but recently decided just to sell it off.

We own it free and clear ...
  Topic: Selling 2nd House... TAX Implications ?
Katmandu

Replies: 3
Views: 5820

Post image iconForum: Real Estate   Posted: Sat Sep 24, 2011 10:41 am   Subject: Selling 2nd House... TAX Implications ?
We have a 2nd house that we bought and renovated over the last couple years. My wife and I were going to downsize and move into it but recently decided just to sell it off.

We own it free and clea ...
 
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