
01-05-2023, 07:34 AM
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Sage
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Join Date: Feb 2013
Location: The Villages and the Northern Neck on the Chesapeake Bay, VA.
Posts: 6,300
Thanks: 1,709
Thanked 3,564 Times in 1,599 Posts
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Quote:
Originally Posted by manaboutown
You may want to check with your accountant/tax advisor. If you are married and it was your primary residence you may qualify for up to a tax free $500,000 gain which is not chicken feed for most of us. The $250,000/$500,000 Home Sale Tax Exclusion | Nolo
Then if you really want to be a landlord buy another house, likely at a higher price than your basis in your current house. This would give you a higher basis from which to depreciate the house. Again, talk to your tax advisor. Florida Landlord-Tenant Laws | Nolo
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It wasn't a primary home. I decided to hire a rental company because I not here all year.
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