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URL:  http://boards.fool.com/the-other-thing-is-if-your-condo-is-your-primary-19675925.aspx

Subject:  Re: House in Roth? Date:  10/6/2003  7:59 PM
Author:  foobarista Number:  67090 of 121572

The other thing is if your condo is your primary residence,
you don't have to pay cap gains taxes anyway if you live in
it for two years, up to $250,000, $500K if married filing
jointly.

Note that even if you did, you'd only pay cap gains taxes on
profit, which crudely means sale price minus sale fees/RE
commissions minus your "basis", typically the price you paid.

So, if you bought your condo for $250K, and sold it for $550K,
only ($50K - RE commissions) would be subject to cap gains tax.

(Naturally, std disclaimers apply, read relevant tax documents,
etc.)

--Foobarista
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