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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Sat, 09 Apr 2005 18:51:50 GMT
/ Author of the message: "Tyrone" |
Title of the message: |
Re: tax question on capital gains
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Text of the message: |
"Richard Macdonald" <rmacdonald@verizon.net> wrote in message news:RpL5e.2625$jd6.2522@trnddc07... > "Tyrone" <Tyrone@innercity.net> wrote in message > news:7JE5e.542918$w62.343684@bgtnsc05-news.ops.worldnet.att.net... > > > > "joe" <jbeck695@gmail.com> wrote in message > > news:1112992094.080211.102240@o13g2000cwo.googlegroups.com... > >> scenario: > >> > >> bought house in 1995 for 86k, lived there for 1 year & have been > >> renting since. > >> current value is 175k > >> depreciated 8k > >> so my question is if I sell the house for 175k > >> the cost basis is 80 (86-8). > >> the capital gains 175 - 80 = 95k > >> how will the 95k be taxed? > >> > > > > $86K-$8K= $78K, $175K-$78K=$97K, $97K-selling expenses =$??K taxed as > > long term capital gain. > > No, it will be $??K - 8K Long Term Capital Gain and > $8K Section 1250 recapture taxed at a 25% maximum. > > |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.