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New Housing Law Makes Costly Tax Changes For Real Estate Investors
The new housing rescue bill signed into law by the President last week includes some ugly tax changes especially for vacation home and investment property owners.
The new law changes capital gains treatment of these properties eliminating the some of the prior rules which savvy investors used to avoid these taxes.
Under the old rules one could use the $250,000 ($500,000 for married couples) exemption of tax on home sales if they use the property as their principal residence for 2 out of the last five years.
Here’s how a savvy investor would use the old law to execute a tax free sale of […]
Original post by Rob K. Blake and software by Elliott Back
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