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27 June 2024 | 4 replies
If you live in the home for 24 months out of the past 5 years, you can exclude up to 250k of capital gains from your income, or 500k if married filing jointly.
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27 June 2024 | 26 replies
Not a cpa, not a lawyer, just a reader....TBS.I’m pretty sure you’re generalizing at least a couple ideas...The best you’re going to do is tax free on the side you lived in, if it’s under $250k or $500k if married, you’re going to owe capital gains tax and depreciation capture on the rental side regardless You have to have lived there as your primary FIRST, if it was a rental first, you’re going to owe capital gains and DR on the percent of time the half you lived in was a rental, and 100% of the other unit.
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27 June 2024 | 37 replies
Honestly I don’t even know if they’d be more or less likely to all stay through the end of a lease if they were friends, married/lovers or relatives.
26 June 2024 | 8 replies
I am married and my family size is three (me, my wife, and 3 yrs daughter).
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30 June 2024 | 54 replies
lol we are talking the same, lets say we do some input statistic analysis ( i did it before ), so in 2009 the mortgage debt with typical husband and wife working is like 29% ; now that number is going as much as 44% in some cities. also our home price is created using auction systems, if there'e 100 houses in one zip code, the pricing discovery in created by the last 3-5 home purchasers, which indicate 95% of other folks does not necessarily able to purchase home or do mortgage with current rate.Which cause a problem, one household either need to maintain job that can continously paying the mortgage and/or the loyalty of husband and wife is a MUST LOL Having said that, to maintain 1.5 mil homes in bay area for example, husband and wife should not divorce for 30 years at least.But for 150k house in Ohio, the husband can divorce their wife anytime while maintain the mortgage payment LOLHaving said that, getting divorce is very suicidal for financial.but also creating different effect, for single guy, there's almost no way they can purchase home, unless they're cardiologist or any other high income earner LOL (this example is just for fun).In our area the home supply is coming from two sources mainly: people going retirement and want to cash out or separation in relationship LOLGetting separation is very expensive especially if you born in 1970/1980/1990s, I would even argue the moment you are married-->single thus you become the renter class again LOL
26 June 2024 | 34 replies
Would be something where I give the LLC partner a portion of my tax savings and no we are not married, etc.
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25 June 2024 | 8 replies
I am assuming when you say partner its business partner and not married :)
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28 June 2024 | 41 replies
To sell as the married couple and buy with a single member llc of only one of them (This avoids the LLC being seen as a partnership but also doesn't change the tax payer since the property will still be reported on your joint tax return)2.
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25 June 2024 | 35 replies
Now my parents are still married but imagine if you can that one day my father comes home and declares after 40 years of marriage, that he fell in love with his secretary or one of his buddy's at work ( lol, I just had a image of my dad being gay ..) it has happened to 100's of thousands of women.
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26 June 2024 | 17 replies
One newly married couple : she had 635 credit, he had a few evictions.