Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 07-12-2017, 06:41 PM
Junior Member
 
Join Date: Jul 2017
Posts: 1
Selling Second Property

Hello.

I currently own a primary residence and a second home. The second home is being used by my mother-in-law and thus there is no rental income.

I am in the process of looking to sell both properties in order to purchase one larger primary residence. I understand that I won't pay capital gains tax on my primary residence due to the exceptions that are allowable. However, I am wondering if there is any way that I can avoid paying capital gains tax on the second home?

Thank you for your time.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Selling vacation property. Diogenes Capital Gains 1 02-09-2017 07:54 PM
Tax implications for selling rental property danbraunstein Rental Real-Estate 3 05-16-2016 05:43 PM
Tax for selling property outside US yolz Estimated Taxes 1 10-22-2015 12:42 AM
Selling rental property below market value Azref2627 Rental Real-Estate 0 09-14-2015 10:54 PM
Selling Inherited Property JBB6354 Capital Gains 1 10-29-2010 08:25 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.