Will we have to pay pay capital gains?Income is SSI.? - can i buy hud home with ssi
My husband was able to get SSI and buy last year, enough for us, for a flat () cheaper than to rent. We bought a house last February 07.Needless that we have a bad buy neightborhood: (. Buy HUD. The house was only 53K and the additional 5k loan is charged on end-60k. now 63k.We happen, but if I remember correctly We have to live in our house for 1 year?. If they wait for us Feb08-May08, we approach most likey 90k.We have everything you sent and try to pay our bills aboveground Finace 27k.Or with trailer.II miracle if you want to pay on the capital gain is our income over 21K right Now.We has two young children.
Sunday, February 21, 2010
Can I Buy Hud Home With Ssi Will We Have To Pay Pay Capital Gains?Income Is SSI.?
4 comments:
You have to live the house for 24 months to avoid paying his personal residence to more than the CAP.
I for one lifetime. The first type in the right is very bad
They live at home for two years to avoid capital gains.
You must pay capital gains households in less than two years. The tax rate is 15% (I think) only on the profits. If a house is your principal residence for two years or more, then there is no tax on capital gains.
However, it is also necessary to weigh the advantages and assets to their SSI benefits. You should contact the agent who handled your case, check to see who wants to sell the old house and buying another, so that no interruption of your benefits.
BTW, do not buy a mobile home. The mobile homes are like cars, between the value of each year. Site built homes increased in value, while under the camper. Each piece of shit shooting with a value of more than ten years, what you paid for it, while all mobileHouse worth less.
If you can not pay the market that lives and moves out of the market. I bought 5 1 / 2 $ 14,000 acres in northeastern Tennessee in 1999. This could be worth $ 20,000, but I never think about the sale, so that the market value is not relevant. If it fell to $ 1 acre, I would not mind a little bit (my house) not an ATM.
Even if the profits reinvested in your next home, pay no capital gains tax.
The thing is, when one dies, the government will have his court.
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