Search found 7 matches

by boshyd
Wed Apr 20, 2016 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff HELOC or 401k Loan
Replies: 4
Views: 650

Payoff HELOC or 401k Loan

I found myself in a situation where I bought a home before selling my previous one. (A listing opened up in an area we wanted so I had to act fast. I made an offer, got accepted and then put my home on sale.) I went with a lender I knew who could close so didn't pay lot of attention to interest rate...
by boshyd
Fri Oct 09, 2015 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Implications on Rental Sale
Replies: 11
Views: 750

Re: Tax Implications on Rental Sale

OK, Thanks for the responses. So, it's Capital Gains tax and not RegularIncomeTaxRate % for that year. Thanks for clarifying this. Twins Fans, I ask because I have a rental presently and I am considering either selling it (alongwith my present primary residence to come up with more downpayment) or m...
by boshyd
Fri Oct 09, 2015 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Implications on Rental Sale
Replies: 11
Views: 750

Re: Tax Implications on Rental Sale

Thanks for the link, I will go through it although at first glance it looks like Rental -> Primary Residence situation whereas my situation is Primary-Residence -> Rental or Primary-Residence -> Rental -> Primary-Residence again.
by boshyd
Fri Oct 09, 2015 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Tax Implications on Rental Sale
Replies: 11
Views: 750

Tax Implications on Rental Sale

Hi, I am sorry if this topic has been beaten to death. Just looking for some validation. I just want to know if my understanding of tax implications after primary residence is converted to rental is correct or not: 1. Original Purchase Cost $222,000 2. FMV on Conversion date $200,000 3. Depreciation...
by boshyd
Thu Jan 31, 2013 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Negative cash flow - Sell or Improve!
Replies: 12
Views: 1343

Re: Negative cash flow - Sell or Improve!

Thanks once again for all the comments. If I use the formulas that Sulvar suggested my numbers look like this: Cash Flow: -3060 Profitability(Taking into account Depreciation): -6170 Profitability(Without taking into account depreciation): +1030 I can probably improve my profitability by $1500 or so...
by boshyd
Thu Jan 31, 2013 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Negative cash flow - Sell or Improve!
Replies: 12
Views: 1343

Re: Negative cash flow - Sell or Improve!

Hi All, Thanks for all the comments. To answer some of your questions: 1) What is your time worth? I have a day job but am free evenings and weekends, ample time to manage the rental. 2) If you sold it for a loss would you be able to claim a capital loss and deduct it on your taxes. I believe so. I ...
by boshyd
Wed Jan 30, 2013 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Negative cash flow - Sell or Improve!
Replies: 12
Views: 1343

Negative cash flow - Sell or Improve!

I am having a hard time figuring out if I should hold onto my rental property or sell it. I am what you call the accidental landlord. I converted my condo into a rental back in Oct 2011. The value at conversion was 200K. I bought the condo at 222,000 and currently owe the bank 188,000 on this. If I ...

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