Tuesday, June 14, 2016

Selling the House . . . Again

Once again we are going to try to sell our house. The market is up and we will be able to pay off our mortgage now (hooray) but it has been rented for the past 5 years so the sale will be taxed (boo). The taxes are such that we will break even on the sale if we get our asking price. Instead of paying Uncle Sam I'm running calculations on sale prices and doing research on deferring those taxes with a 1031 Exchange. I need a place to dump all my research and this seemed like the perfect place to do it. Maybe some of this will be helpful for you too? Do you have any advice for me?

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