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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 3 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
I had a condo, bought 2009 for $142,000, now appraised at $175,000. Going to rent it out...because... 2012 bought a house for $352,000, planning to live in it and do major improvements. I'm starting to think I did this wrong! I didn't have time to sell the condo, so I rented it. But is it going to cost me an arm and a leg in taxes now? If I can prove that the value doesn't go up in the value of the condo this year, but rather, decreases (ex: sell it less than $175k in a year or two), does that mean I won't have to pay capital gains?
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