This is the seller’s market. What other taxes do you have to pay other then capital gain taxes if you sell your rental?

Chị Wenn đâu rồi lên đây giúp BB chúc đi chị Wenn

dakao2 wrote:Chị Wenn đâu rồi lên đây giúp BB chúc đi chị Wenn

Just something to talk about my friend. I know for the fact is don’t do it unless it’s long term because once you’re in, it’s not easy to get out. :eek:

BeiBei wrote:This is the seller’s market. What other taxes do you have to pay other then capital gain taxes if you sell your rental?

Only capital gain tax. But the rate is variable đepening on how long you have and add in your income.

Although this is a seller's market, I don't think it should be sold unless you need cash.
Today, the market is acting crazy as in the 90s. Something will bust, but not property investment.

hoàng tử lưng gù wrote:

BeiBei wrote:This is the seller’s market. What other taxes do you have to pay other then capital gain taxes if you sell your rental?

Only capital gain tax.  But the rate is variable đepening on how long you have and add in your income.

Although this is a seller's market, I don't think it should be sold unless you need cash.
Today, the market is acting crazy as in the 90s.  Something will bust, but not property investment.

I concur.

My thoughts on the contribution.

There are so many options and there are no good options other than moving back and live in your rental for 2 years before you can sell it.
1. 1031 Exchange- if timing is off, you’ll end with another house
2. Rent the current house and move back to the rental and live for 2 years then sell
3. Keep on renting while living in the current house for 2 years then sell current house and move back to rental
Noi di noi lai, doesn't matter how hot the housing market is right now, there's no way out without paying the hefty capital gain taxes. Day la y’ tro*i. 🥳