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“Did you sell your house in Portland?”
Did we sell the property or rent it out? Or did we leave it there vacant?
It is all about MATH.
Before I reveal our decision, let me give you more details. You can analyse it and see if you have come to the same conclusion as ours.
The Math of Selling Our House
In the USA, there is a capital gain tax for real estate sales. However, there is an exclusion of up to $500,000 tax-free gain, provided that we meet the criteria. Fortunately, when we sell our primary residence within the next three years after we move, we don’t have to pay taxes on the gain.
Neue Möglichkeiten durch Mieten und Vermieten aachener-nachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aachener-nachrichten.de Daily Mail and Mail on Sunday newspapers.
RentNap: Your one-stop solution for renting as well as renting out stuff
Millennials and most working professionals now prefer to rent furniture and appliances rather than shelling out huge sums of money to buy them.
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UPDATED: March 8, 2021 14:06 IST
Imagine that you have landed your dream job and now have to move to a different city. You finally get to move out of your parents’ house and live on your own. This newfound independence is great, but are you really ready to face all the hassle that comes with living alone?
Think about it - don’t you need a bed and a comfortable mattress? Or a refrigerator for cold drinking water and to store food? What about a washing machine to take care of that huge pile of clothes in your laundry bag?
Blog: Renting Out a Second Home | Montgomery Community Media mymcmedia.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mymcmedia.org Daily Mail and Mail on Sunday newspapers.