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Personal Finance and Investing

OAITW r.2.0

(24,756 posts)

7. We know that...

Reply to PoindexterOglethorpe (Reply #6)

Sat May 16, 2020, 01:37 PM

May 2020

one of the reasons we are selling is the problem of passing it to the next generation in the 4 families. Together we have 10 kids. Splitting time available to use vs. paying property taxes is a big issue as well.

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I have a question on Real Estate sales and tax implications. [View all] OAITW r.2.0 May 2020 OP

Capital gain tax and ordinary income tax on any recaptured depreciation Cary May 2020 #1

Thanks! I was hoping that my age would give me some kind of taxbreak.... OAITW r.2.0 May 2020 #2

Your lower income may give you lower rates Cary May 2020 #3

Good info, thanks! OAITW r.2.0 May 2020 #4

Ideally, you had the property appraised when you inherited it. 3Hotdogs May 2020 #5

Keep in mind that whatever money you realize, PoindexterOglethorpe May 2020 #6

We know that... OAITW r.2.0 May 2020 #7

One can exclude $250,000 (single) or $500,000 (MFJ) progree May 2020 #8

Not unless it is a primary residence Cary May 2020 #9