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re: Rental property question
Posted on 1/9/20 at 1:50 pm to NOLAGT
Posted on 1/9/20 at 1:50 pm to NOLAGT
One other reason I was considering selling this year is that I think this is the last year I can see with fewer tax implications since I've still lived in it three of the last 5 years. I need to go back and refresh myself on that rule.
3
Posted on 1/9/20 at 2:04 pm to ulsaint
i do not know the specifics but am aware of what you are talking about and know others that sold because of it.
Posted on 1/9/20 at 2:11 pm to ulsaint
One other reason I was considering selling this year is that I think this is the last year I can see with fewer tax implications since I've still lived in it three of the last 5 years. I need to go back and refresh myself on that rule.
----------------
Yeah, you're getting some good advice on here.
Taxes ramifications was going to be my question for you.
I've got single family homes and most are paid for. I still manage myself, but will consider management if I burn out. But I bought right and put most on short term mortgages.
I'd be inclined to sell this one and you decide what to do with the proceeds.
I heard some of the oil companies are laying off in Houston. How deversified is the economy?
----------------
Yeah, you're getting some good advice on here.
Taxes ramifications was going to be my question for you.
I've got single family homes and most are paid for. I still manage myself, but will consider management if I burn out. But I bought right and put most on short term mortgages.
I'd be inclined to sell this one and you decide what to do with the proceeds.
I heard some of the oil companies are laying off in Houston. How deversified is the economy?
Posted on 1/9/20 at 2:26 pm to ulsaint
Capital gains tax? Think you have to live there 2 years to not have to pay on profits when you sell...but I dont know how that works when you dont live there for a bit. There may be more but just wanted to toss that out there.
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