Posted by dealmaker on March 08, 2006 at 13:59:18:
Your taxex on the $20K are only $3K, take that and pay down the mortgage on the other one.
dealmaker
Avoiding taxes on rental property - Posted by Sean
Posted by Sean on March 08, 2006 at 11:01:53:
I have a rental property (2 br house) that I have been renting for a couple of
years now. I am getting ready to sell a different property and make 20K or so.
I was wondering if there is a legal and tax free way that I can take that 20K in
profit and pay down the mortgage on my rental house?