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26 February 2025 | 5 replies
@David Avetisyan If you sell your home for $510K and provide a $10K seller credit, your taxable gain is based on the net sale price of $500K ($510K - $10K credit), as seller credits reduce the gross selling price for tax purposes.Tax Impact in CaliforniaCapital Gains Calculation: Your gain is the net sale price minus your adjusted cost basis (purchase price + closing costs + capital improvements).Primary Residence Exclusion: If you’ve lived in and owned the home for at least 2 of the last 5 years, you may exclude up to $250K (single) or $500K (married) under IRC Section 121.California Tax: Capital gains are taxed as ordinary income at rates up to 13.3%.The $10K seller credit lowers your taxable gain.
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26 February 2025 | 22 replies
Would be glad to talk more about the area!
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24 February 2025 | 5 replies
Who owns the LLC?
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26 February 2025 | 18 replies
The problem was that I kept tweaking the model.
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24 February 2025 | 25 replies
The lower the insurance cost, the less likely a natural disaster is to occur.Low operating costs.
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27 February 2025 | 1 reply
@David P.Do you have photos of the bathroom from before the tenant moved in?
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27 February 2025 | 1 reply
The question(s) being, who sets up the contract?
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27 February 2025 | 22 replies
What did they say is the plan?
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23 February 2025 | 7 replies
The owner is estimating that the Tax Map Key will be available in 10-24 months.
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27 February 2025 | 6 replies
Having this closer by makes the requirements easier to achieve.