The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: captial gains||Date: 7/19/2005 11:40 PM|
|Author: ginger1236||Number: 80084 of 119695|
The background info....
I bought a house in LA in 1999. I moved to TX in 2001. I owner financed the house in LA at that time. The person that "bought" the house in LA didn't make payments in a timely fashion and I recently repo'ed it and re-sold it.
If I use the money from the sale of the LA house to pay for the house I am currently in, do I still pay capital gains?
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