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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/we-are-selling-our-nyc-coop-apartment-for-800k-30628115.aspx

Subject:  Re: Get a mortgage or pay cash? Date:  4/9/2013  9:49 AM
Author:  TMFPMarti Number:  125074 of 127464

We are selling our NYC coop apartment for $800K and buying a house in the suburbs for about the same amount. We currently have a paid off mortgage so we could buy the new house with cash. IF it's the right thing to do.

Will you have any taxable gain on the sale? See IRS Publication 523.

Phil
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