Posted by Nate(DC) on August 05, 2003 at 13:32:10:
Do a 1031 exchange - that’s the only way to avoid taxes.
NT
Taxes on sell of rent house - Posted by Ken Karriker
Posted by Ken Karriker on August 05, 2003 at 11:27:50:
I live in Springfield, MO.
I currently have a mortgage on my primary residence and I own outright a former residence that I’ve been renting out for several years.
If I sell the rent house do I have to pay taxes? What if I apply to the current mortgage? Any way to get out of tax burden.
Thanks - Ken
Re: Taxes on sell of rent house - Posted by JHyre in Ohio
Posted by JHyre in Ohio on August 06, 2003 at 06:26:22:
If you’ve owned the rental for more than three years after you moved out, you’ll owe taxes unless you do a 1031 exchange.
John Hyre