Fast House Buyers

if you loose money on the sale of a house, does can the loss be a tax write off?

Tue, 30 Aug 2011 00:19:43 +0000

Also if your tenant missed paying you the rent in Decemeber is the loss in rental income a tax write off against your normal income? Related posts:Should I borrow money to sell my house or ask the bank for a short sale? Can I take a capital loss deduction for losing money on my home … Continue reading Related posts:

Should I borrow money to sell my house or ask the bank for a short sale?
Can I take a capital loss deduction for losing money on my home due to short selling?
Can I loose my earnest money when buying a short sale house after waiting for 8 months?

How do I claim the sale of my mothers house on my taxes?

Mon, 29 Aug 2011 15:19:04 +0000

My mother passed away, her house was sold, the money divided, and I received $33,000. I have no idea how I am to claim this on my taxes, and would rather not pay some one to to them. Related posts:When filinng taxes, can you claim a 1 time exemption on the sale of your house? … Continue reading Related posts:

What are the tax implications from receiving proceeds from the sale of a house that was left as inheritance?

Mon, 29 Aug 2011 06:20:04 +0000

Are there capital gains taxes? Does this get added to total income? Related posts:Does the capital gain from the sale of my house impact my tax bracket (see details below)? Sale of inherited house – some of proceeds to children? Capital Gains Tax on the Sale of a House? Related posts:

Neighbor is criticizing my house I have for sale?

Sun, 28 Aug 2011 21:18:57 +0000

I have a house that needs some work that Im selling as a handy man special. I buy and sell house for a living and have done this for years. But the guy that owns the property next door and around the house keeps coming over when the realtor is there with a potential buyer and saying there is a million things wrong that really are not. What can I do about this. he has ran several people off doing this. Is there any laws that prevent this. i have no trespassing signs up now to maybe detour him from coming around.

how do you find a haunted house for sale in Illinois?

Sun, 28 Aug 2011 12:20:22 +0000

I’ve always wanted to live in an old haunted house and i was wondering the easiest way to find one. i most certainly don’t want to get hurt or anything but i think ghosts are neat and i love Victorian houses and i think it would be cool if it was haunted. just sayin, ghosts … Continue reading Related posts:

How do you handle the sale of a house with 3 owners and only one wants to sell?

Sun, 28 Aug 2011 03:19:33 +0000

1 person has 50 % ownership and the other two have 25% ownership. The only want who actually wants to sell it is the 50% owner. Can he sell it and buy out the others? Selling a house with 3 owners: One has 50% ownership…the other 2 have 25% ownership. The one who wants to … Continue reading Related posts:

How does buying a house through a Tax Sale work?

Sat, 27 Aug 2011 18:18:51 +0000

My husband wants to buy a house through a tax sale he says at the beginning of the year at the courthouse you can get a list of houses coming up for sale, he says that you can get a house VERY cheap like 600 to 5000.00 is tht true? BUT do you have to pay the bid amount and the amount of the taxes owed on the property or does the bidding price cover them? Do you have to pay any additional fee other than what you have bid the property to like a regular auction how you pay only what you have bid, how do these tax auctions work? people he works with go to these every year and have bought houses but my husband wont ask them about it any more in depth cause he doesnt want to look dumb like he doesnt get it…But could someone PLEASE explain this all to me b4 we would do it and get stuck paying more than we think we have to? Also is this wrong of us to do? i feel like i am stealing someones house, my High school friends parents house went up for tax sale and i felt bad but he told me the didnt care that they didnt want the house anymore. Help i need alot of info on this subject, i dont want to buy someones house and have them come back and kill my husband and our kids in the middle of the night for it! HELP !!!

calculate capital gains on house sale?

Sat, 27 Aug 2011 09:19:37 +0000

1993 Parent takes principle residence and divides as follows:
1/3 parent
1/3 daughter
1/3 son

All three are tenants in common and house is worth 160,000
709 filed with irs

2006 Day before parent dies, parent share divided between daughter and son still tenants in common.

Daughter has lived in house the entire time therefore house is principle residence.

Son has not lived in house since 1970.

Assuming house sells in 2007 for 450,000 what do son and daughter owe in terms of capital gains ?
basis of house is 150,000

Would spouse be entitled to % of equity or sale price in house?

Sat, 27 Aug 2011 00:19:06 +0000

Going through a divorce in MI. The house is 5 years old & doesn’t have much equity built. My name wasn’t on the house, however it was a marital purchase, which I’m told would still give me some kind of claim. I’m wondering if I would have a claim only on a percentage of the … Continue reading Related posts:

Best way to minimize taxes on sale of a house.?

Fri, 26 Aug 2011 15:19:28 +0000

I am getting ready to sell a house in Lousiana. I moved to Kansas a couple of years ago for a job, and bought a house here last year with no money down (it was all tied up in the other house). I am concerned that I will show a decent profit on the old house, bought it for $67,000 in 1998 and expect it should sell for at least $120,000 on the current market. I need to move as much money as I can into my current house to hopefully pay off the second mortgage on it at least, but I’m expecting that with high Kansas taxes and US taxes that I will take a pretty big hit. Anybody been through this before, and have any advise?