Online source of tax info on a difficult question

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Online source of tax info on a difficult question

Postby tc101 » Tue Jan 29, 2013 1:12 pm

I don't expect anyone here to know the answer to this, but where could I go online and pay someone to answer this question:

I moved out of the house I lived in and am currently renting it. I bought it 20 years ago for $80K and will sell it for about $250K. If I have lived in it 2 of the last 5 years there are no cap gains taxes.

If I sell it to someone and finance it myself, and then that person defaults after 4 years and I reposess it, what happens? If I sold it for $250K, then reposess it, then resell it for $260K, would I owe cap gains taxes on $10K or $180K?

Apparently this is a difficult question. I have asked it in several online forums and no one knows. I asked my CPA nephew and he didn't know and was too busy to research it. Most CPA's are very busy right now. You can not email the IRS a question, and wait times on the phone are very long. Is there anywhere online that you can just pay to get a question answered? I have heard there are lots of people in India who study American tax law and answer questions, but I can't find them.
. | The most important thing you should know about me is that I am not an expert.
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Re: Online source of tax info on a difficult question

Postby sscritic » Tue Jan 29, 2013 1:16 pm

You even asked here before, or did you forget?
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Re: Online source of tax info on a difficult question

Postby tc101 » Tue Jan 29, 2013 2:20 pm

Right. I know I asked here and no one knew the answer. Now I just want to find someplace online to pay and get an answer. Most tax people are really busy now and it is hard to get one.
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Re: Online source of tax info on a difficult question

Postby jared » Tue Jan 29, 2013 2:31 pm

You apparently ignored my response. You can go back and read it and then pay me.
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Re: Online source of tax info on a difficult question

Postby tc101 » Tue Jan 29, 2013 4:12 pm

You apparently ignored my response. You can go back and read it and then pay me.


Jared, thanks a lot. I hadn't checked back on that thread since you responded. I really appreciate it. PM me a bill.
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Location: Atlanta - Retired in 2004 at age 54


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