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How will selling our home affect our taxes?
March 10, 2010
4:55 am
Jon Emge
Jon Emge
Moderator
Forum Posts: 1018
Member Since:
January 14, 2010
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Tracey, 

You are asking a good question and it is wise to think these things ahead.

You will need to speak to a tax expert in your area regarding this concern.

There can be tax implications as you are aware from the sale of a home, capital gains, losses, etc, however there are also time frames for these and possible exceptions.

So consulting a tax expert is the best advice I can give you.

Jon

March 9, 2010
4:00 pm
Guest

My husband and I have decided to sell our house in order to pay off all of our debt. When we do, we will purchase a fifth wheel to live in for a year or two before building a new home. How will this affect our taxes? How do we estimate how much money we should put away for taxes next year?
 
Tracey

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