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T or F: LTCG on a primary residence are not taxed because CapEx > the LTCG
| soul-stirring peach sneaky criminal puppy | 06/21/22 |
| soul-stirring peach sneaky criminal puppy | 06/21/22 |
| Provocative shrine | 06/21/22 |
| soul-stirring peach sneaky criminal puppy | 06/21/22 |
| soul-stirring peach sneaky criminal puppy | 06/21/22 |
| soul-stirring peach sneaky criminal puppy | 06/22/22 |
| chartreuse elastic band | 05/10/24 |
Poast new message in this thread
Date: June 21st, 2022 10:12 PM Author: soul-stirring peach sneaky criminal puppy Basically the IRS figures if it’s your primary residence you’ll spend money on repairs, remodel, painting, etc. so it’s not worth it to force homeowners to file a schedule with their taxes. Also there’s the added benefit that many homeowners will simply forget about their CapEx if they don’t have to file a schedule and then they will think that they made money on their house if the sales price exceeds the purchase price. Then, post-sale they will be more likely to double down on another SFH to restart the cycle. This policy encourages consumer spending which stimulates the economy and thereby generates more tax receipts downstream. |
Date: June 21st, 2022 10:27 PM Author: soul-stirring peach sneaky criminal puppy (http://www.autoadmit.com/thread.php?thread_id=5136296&forum_id=2#44720854) |
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Date: June 21st, 2022 10:28 PM Author: Provocative shrine They also want to encourage people to move around for jobs.
But mostly, it's just a sneaky way to give a tax break to UMC types. |
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Date: June 21st, 2022 10:30 PM Author: soul-stirring peach sneaky criminal puppy I hadn’t thought too much about the job angle. I guess that makes a lot of sense. This policy also hides the sting of those closing costs. (http://www.autoadmit.com/thread.php?thread_id=5136296&forum_id=2#44720871) |
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Date: June 21st, 2022 10:49 PM Author: soul-stirring peach sneaky criminal puppy (http://www.autoadmit.com/thread.php?thread_id=5136296&forum_id=2#44721031) |
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Date: June 22nd, 2022 8:06 AM Author: soul-stirring peach sneaky criminal puppy (http://www.autoadmit.com/thread.php?thread_id=5136296&forum_id=2#44722322) |
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Date: May 10th, 2024 11:36 PM Author: chartreuse elastic band (http://www.autoadmit.com/thread.php?thread_id=5136296&forum_id=2#47652586) |