|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Financial Planning / Tax Strategies |
||
|
URL:
http://boards.fool.com/buy-sisters-residence-leaseback-14069206.aspx
|
||
| Subject: buy sister's residence & leaseback | Date: 1/9/2001 1:46 PM | |
| Author: honeydog | Number: 44087 of 126183 | |
|
She is 68 yrs old, only income social security. House with no mortgage has been her principal residence for 25 months. She sells to me, holding 30 yr, 8% mortgage, for $ 100,000+ gain without tax on such gain. I leaseback to her for lease pymts substantially less then total of my depreciation, improvements, taxes, mortgage interest. etc. resulting in annual loss on rental investment. 8+ years later, I sell back to her at price which, after recapture of my depreciation, results in small gain. Or, instead of selling back to her, I terminate lease and I move in as my principal residence for 2+ years, then sell to unrelated party for substantial untaxed gain. |
||
| Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||