Today TaxMama hears from Melissa in Florida with this problem. “I paid a deposit and rate lock fee on a pre-construction condo on the Miami River in Oct 04. Closing is due in June 2008. I really cannot afford to buy this condo and make monthly mortgage payments. What is best? If I do not […]
Tag Archives: Condo
Today TaxMama hears from Miguel in Arizona, who tells us, “I want to sell my condo. I have only been in it for a year. How much of a capital gain will I have to pay?”
Today TaxMama hears from Gina in Canton, MI, who tells us, “12 years ago, we (8 couples) bought a condo for $280,000 at Atlantic City, NJ for investment (as a partnership). Five years after that, the price dropped to $120,000. But, last year the price bounced back to $240,000. So, our partnership decided to sell. […]
Today TaxMama hears from Marti in Los Angeles, who tells us. “I am getting married in September. I own a condo that has been my primary residence for five years. My fiance’ and I lived there together for two, but he is not on title.https://www.grapplearts.com/wp-content/languages/new/writing-a-business-proposal.html I have over $250,000 in equity so I would have […]
Today TaxMama hears from Paul in Florida, who says “I have a friend whose apartment community has been converted to a condominium. He and his wife are going to buy their unit, which has been their primary residence for over two years.https://www.quaintonhall.org.uk/wp-content/languages/new/buy-nothing-day-essay.html They intend to resell the condo as quickly as possible after purchasing it […]
Today Rod from SC has some money burning a hole in his pocket. “If you had $14,000 to pay some bills, which payment would provide the best tax advantage: Pay student your loans of $14,000; Pay car note of 14,000: Or put the total into your home mortgage of $60,000? Please explain your suggestion. My […]