1) You Don’t Have a Capital Gain Due to the housing market, many homeowners no longer have a gain in their home. A gain is the sales price minus the cost basis. The cost basis is generally the purchase…
1) You Don’t Have a Capital Gain Due to the housing market, many homeowners no longer have a gain in their home. A gain is the sales price minus the cost basis. The cost basis is generally the purchase…
If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. This type of debt includes mortgages, credit cards, car loans and student loans. Lenders are required to send Form…
Originally under the Small Business Jobs Act, those who received rental income from real estate were going to be considered, to be engaged in a business, and were going to be subject to the requirements to issue 1099 information returns. …
What direction do you think interest rates are headed in? Homeowners have ridden the variable interest rate mortgage ride for all it’s worth. The prime rate hit 20% in 1980. Since then interest rates have been in a long and…