Re: capital gains - Saab General Bulletin Board - Saabnet.com
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Re: capital gains
Posted by Rod M [Email] (more from Rod M) on Fri, 12 Nov 2004 10:53:17
In Reply to: capital gains, markP, Fri, 12 Nov 2004 04:40:36
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Not only do you have to own the house for 2 years to avoid capital gains tax, you have to live in it for 2 years as your primary residence. If you hold the property for less than a year, you'll pay tax at short term capital gain rates (your ordinary marginal tax rate), but if it's more than a year you'll only pay at 15% - good deal! That's federal I'm talking about of course - Arnie will want his chunk too!
Rod
posted by 63.240.1...
Posts in this Thread:
- OT: Real Estate Question - Buying in a new development, Randy Thatcher , Thu, 11 Nov 2004 22:42:03
- You are betting that mortgage rates will stay low,, Rafe, Sun, 14 Nov 2004 06:52:35
- Salbale contracts..., egsAero, Fri, 12 Nov 2004 12:25:13
- foreclosers, ckpaden, Fri, 12 Nov 2004 11:40:07
- Good strategy...., Mike Lynch , Fri, 12 Nov 2004 11:35:32
- If its stictly an investment property..., KB900psi, Fri, 12 Nov 2004 10:31:04
- Re: OT: Real Estate Question - Buying in a new development, Bob M, Fri, 12 Nov 2004 08:11:13
- capital gains, markP, Fri, 12 Nov 2004 04:40:36
- How much can you afford to lose?, MI-Roger , Fri, 12 Nov 2004 04:12:31
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