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Started By
Message
So I'm going to pay 15% real estate capital gains on a measly $38K ??
Posted on 4/3/23 at 3:16 pm
Posted on 4/3/23 at 3:16 pm
me me thanks Biden and Pelosi - damn
is this real???
13
Posted on 4/3/23 at 3:19 pm to Harry Rex Vonner
wut
Posted on 4/3/23 at 3:23 pm to Harry Rex Vonner
Guessing you did not understand the capital gains laws before selling?
Have nothing to do with it
quote:
thanks Biden and Pelosi
Have nothing to do with it
Posted on 4/3/23 at 3:23 pm to Big Scrub TX
quote:
wut
I like that response. Please tell me I'm wrong.
Posted on 4/3/23 at 3:24 pm to UltimaParadox
quote:
Have nothing to do with it
okay, Somebody Bad caused it
there
Posted on 4/3/23 at 3:32 pm to UltimaParadox
quote:
Guessing you did not understand the capital gains laws before selling?
I'm selling because I'm tired of renting to meth heads who don't pay their rent, and I'm ready to just bank the minimal profit and say frick it
Posted on 4/3/23 at 3:39 pm to Harry Rex Vonner
Great post. Very informative. Would read again.
Posted on 4/3/23 at 3:50 pm to Harry Rex Vonner
Does the $38k account for depreciation recapture?
Did you consider a 1031 exchange into a better property?
Nevermind, you think Biden and Pelosi are responsible for the capital gains tax. No way you'd be knowledgeable on enough to consider 1031.
Did you consider a 1031 exchange into a better property?
Nevermind, you think Biden and Pelosi are responsible for the capital gains tax. No way you'd be knowledgeable on enough to consider 1031.
Posted on 4/3/23 at 4:02 pm to TorchtheFlyingTiger
I love the money board
Posted on 4/3/23 at 4:09 pm to TorchtheFlyingTiger
quote:
Does the $38k account for depreciation recapture?
No, thank you, there is four years of depreciation
quote:
Did you consider a 1031 exchange into a better property?
I have plenty of time to pour it into another property
quote:
Nevermind, you think Biden and Pelosi are responsible for the capital gains tax
sorry I hurt your Nancy Pelosi-loving feelings
Posted on 4/3/23 at 4:12 pm to TorchtheFlyingTiger
quote:
Nevermind, you think Biden and Pelosi are responsible for the capital gains tax. No way you'd be knowledgeable on enough to consider 1031.
of course. Two lefty demand-side politicians who've been in congress since the civil war have nothing to do with ridiculous capital gains taxes
Posted on 4/3/23 at 4:20 pm to Harry Rex Vonner
quote:
renting to meth heads
If they’re cooking the stuff in your house.. better than decent chance they blow themselves up. Insurance proceeds would be tax free, IIRC.
Posted on 4/3/23 at 4:24 pm to LSUcam7
I get it
yall don't want to talk money, you want to pick fights
how nice - God bless you all
Posted on 4/3/23 at 4:27 pm to Harry Rex Vonner
If you sell capital assets at a profit, you pay capital gains.
Yes. Unless you have capital losses to offset.
quote:
So I'm going to pay 15% real estate capital gains on a measly $38K
Yes. Unless you have capital losses to offset.
Posted on 4/3/23 at 5:48 pm to LSUcam7
Is that $38k before or after you recapture the four years of depreciation?
That 15% may be 20% plus your medicare tax if your income is high enough.
Biden didn’t do this but had Trump lost the House for the republicans too the dems would have changed the rate to be the same as the normal income rate.
That 15% may be 20% plus your medicare tax if your income is high enough.
Biden didn’t do this but had Trump lost the House for the republicans too the dems would have changed the rate to be the same as the normal income rate.
Posted on 4/3/23 at 5:51 pm to Harry Rex Vonner
quote:
of course. Two lefty demand-side politicians who've been in congress since the civil war have nothing to do with ridiculous capital gains taxes
They have actually gone down significantly since both took office. Capital gains were 35% when Biden took office. They were 28% when Pelosi took office.
Nobody on here is championing Biden or Pelosi. They are just pointing out how your ranting is misguided. Capital gains taxes are pretty well recognized, i.e., not really worth starting a thread to complain about, and one of the lowest tax rates anyone currently pays in our entire tax system.
Posted on 4/3/23 at 6:13 pm to Harry Rex Vonner
quote:You brought politics into this in an uninformed way that reflects poorly on yourself and conservatives. I'm just tired of both sides blindly blaming the other for everything. You came to the money board and showed both your financial and political ignorance and got called out. And by the way, you've got my political leanings all wrong.
sorry I hurt your Nancy Pelosi-loving feelings
This post was edited on 4/3/23 at 6:14 pm
Posted on 4/3/23 at 6:50 pm to Harry Rex Vonner
Jesus H Christ you need a CPA - and a 38k gain?
Posted on 4/3/23 at 7:06 pm to Harry Rex Vonner
quote:
yall don't want to talk money, you want to pick fights
1. I’m very confused on what your motive for starting this thread was which is why you’re not going to get good responses.
2. You seem to want to talk politics not money
3. How you twist this to anybody but you picking a fight, I don’t know...
Posted on 4/3/23 at 7:19 pm to Weagle25
Harry, I’m in the same boat as you. I have a CPA and still have to pay 19K to Fed and $4400 to state. Tired of renting it and not getting paid.
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