| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 259.1 | | NOTIME::SACKS | Gerald Sacks ZKO2-3/N30 DTN:381-2085 | Thu Jul 30 1992 10:49 | 6 |
| The way I read the article, it would allow you to use the capital loss on
the sale of a principal residence to offset a future capital gain on another
principal residence. The logical way to do this would be to allow the
loss to increase the basis of the second house (or, equivalently, to
reduce the sale price). Clearly you can't offset the gain until you've
sold the second residence.
|
| 259.2 | | SFC01::CABANYA | | Thu Jul 30 1992 12:45 | 4 |
| I think the same bill also has a $2500 allowance for first time home buyer,
and will re-allow IRA's for everyone again, fully deductable...
mary c
|
| 259.3 | | LABC::RU | | Fri Jul 31 1992 13:54 | 5 |
|
That would be a good law. I hope it retroact back two years
when I sold my house at loss.
Jason
|
| 259.4 | Loss on house you rent? | LAVGOD::ALLEN | I got free checking at BCCI | Mon Aug 10 1992 13:57 | 9 |
|
Along the same lines as this basenote, what are the tax ramifications
of renting a house you currently live in (assuming that you move out),
and then sell the house for a loss some time later. Are you able to
take a capital gains loss on the sale of the house. Would there be any
limits to the amount of the loss you can take?
|
| 259.5 | discussion pointer | TUXEDO::YANKES | | Mon Aug 10 1992 14:16 | 5 |
|
This has been discussed a lot over in the tallis::real_estate
notesfile.
-craig
|