Nate Turner
Capital Gains w/ Cosigner
Ok, so we are just about to sell our single family w/ legal accessory that we bought less than a year ago, and I'm researching how capital gains is going to work.
I have a cosigner on the loan who is in the highest ...
Dina Harleth
Pay 0% capital gains on sale of house?
Hi everyone,
I am trying to figure out my best option for a house that was gifted to me while my parent was still alive. It was mentioned to me in a previous thread that I could pay 0% capital gains if my i...
Jeff Lipple
Just started in Southeast Michigan (and Kalamazoo, MI)
hi everyone,
Glad to join such an awesome community and grateful for everything I've already learned here on BP.
I am a 401(k) consultant and MBA student with a concentration in finance.
I enjoy t...
Rahul Sunkavalli
Roth 401K and Roth IRA
Working full time while attempting to invest. If my goals are to leverage RE for financial freedom, should I still max out retirement accounts?
1. Roth 401k vs 401k?
2. Open a Roth IRA as well?
Trying to figure out...
Jay Fisher
Capital Gains Tax on sale of rental house in Utah
I'm selling my rental house (not primary home) in Utah this year and want to know how much I'll owe especially in capital gains taxes. I'm married and we'll be filing jointly. Our gross income this year will be betw...
Pandu Chimata
Depreciation and large taxable income
Hello everyone !I heard that we can/should claim depreciation (if available) on the rental/business properties every year. Obviously, this will help paying less or no taxes at that time.However, when you sell the hous...
Mary Jay
how to calculate the tax after a sale of a rental
Hi guys,Can you please help me out?I am in a 30% tax bracket (not sure if this is important)I was thinking of selling 2 rentals.1) Rental 1. Bought in 2009 for 25K, now its 100K2) Rental 2.Bought in 2021 for 145K, no...
Jeff Higgins
How can I lower my taxable income
I recently bought a house in August that I will be flipping. I am looking at making around 90K to 80K before taxes. This will most likely put me in the 24% tax bracket but I am close enough to falling into the 22% tax...
Patrick J.
Are tax savings based on effective tax rate??
Are tax savings based on effective tax rate or the highest income bracket you're in?? For example, let's say you take a $5,000 business loss and your highest tax bracket is 32%, are the savings based on 32% or reduced...
Carl Graff
Capital Tax when income less than 80K
Say we buy rental property and hold onto it for more than a year so it would be long term capital gain.And our filling jointly Income is around 50K.Would we qualify for 0% capital gain because we are in such a low tax...