U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > World Forums > Canada
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 10-11-2015, 11:46 PM
 
1 posts, read 452 times
Reputation: 10

Advertisements

Hello,

Just a note on Real a Estate in U.S., when you sell a home that is your primary resident, your home, where you live, you do not have to buy another home in two years. You can take your proceeds, individual $250k & couple $500k without purchasing another property in two years & without paying any taxes. The old law was you had to purchase a property within two years. This was changed probably about 20 years ago. This rule doesn't apply to investment property. Investment property tax gain is 15%. You can defer the tax by rolling it over into another property by doing a 1031 tax deferred exchange, where you don't receive any money/cash. If you take any money from the sale whatever you take would be consider boot & will be taxed. Hope this explains the U.S. Real estate tax rules a little!
Reply With Quote Quick reply to this message

 
Old 10-12-2015, 01:06 AM
 
Location: Windsor, Ontario, Canada
11,265 posts, read 13,159,648 times
Reputation: 13467
Handy information for us here in CANADA. lol

Jesus. If you're gonna spam, spam the right board. lol
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > World Forums > Canada
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top