The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/selling-home-tax-hit-avoidance-needed-13372131.aspx

Subject:  Selling Home--Tax Hit Avoidance Needed! Date:  9/26/2000  1:59 PM
Author:  Mohammed90 Number:  40320 of 121146

An elderly relative made me joint owner of her property. Now I am sole owner. I am selling this house immediately. The location is Los Angeles, and the value is between 225K and 235K. Now, I can't take such an income tax hit! What are my options? Point me in some directions. I'm approaching panic.
I have no desire to exchange this property for other property, and I have even less than no desire to be a landlord. I am, incidentally, purchasing an existing Subway Sandwich franchise, if that opens any possibilities.
Mohammed90@hotmail.com
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us