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The Capital Gains question.

Started by jimZ
almost 16 years ago
Posts: 1
Member since: Mar 2009
Discussion about
There seem to be so many different takes on the Cap Gains of selling a co-op. Does anyone know the magic number ? Is it 250K max ? I've also heard that if you buy right away that you don't pay on the gains. Anyone?
Response by columbiacounty
almost 16 years ago
Posts: 12708
Member since: Jan 2009

250 single/500 married. no deals for re buying. have to have been primary residence for minimum 2 yrs.

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Response by manhattanfox
almost 16 years ago
Posts: 1275
Member since: Sep 2007

ok -- cc is correct

your capital gain = Purchase price+ additions/alterations-Selling price - fees - either 250k single/500k couple.

No reinvestment waivers

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Response by hofo
almost 16 years ago
Posts: 453
Member since: Sep 2008

How about 1031 exchange?

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Response by nyc10023
almost 16 years ago
Posts: 7614
Member since: Nov 2008

hofo: investment prop. only

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Response by truthskr10
almost 16 years ago
Posts: 4088
Member since: Jul 2009

1031s aren't the easiest.
I've done 2,and commercial only.

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Response by csn
almost 16 years ago
Posts: 450
Member since: Dec 2007

1031 have very strict time deadlines

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