buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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6% goes to realtor, OK you are done. Next
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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$100K is the profit. 6% to the broker and then short term cap gains rates. Also consider carrying costs for 1 month.
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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You have no idea what you are talking about.
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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No one sells homes for profit anymore...this is fake.
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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how much would i pay in short term gains rates?
and what do you mean by carrying costs?
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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going to be 10-35%
unless you roll it into a new house.
http://www.realestate.com/advice/tax-and-investment-property
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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Buying for 1 and selling for 1.1 will result in no paper profit since closing costs will result in a loss for you. If not, they you will pay tax on the profit.
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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Why would you do that?
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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Not to mention that out of the $100,000 gain, $40,000-66,000 would be going to pay his realtor based on the commission rate.
So after paying closing costs on 1M then paying realtor fees on 1.1M,...
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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Sure they do. People do this to net on the labor charge they incurred (their own labor) for home improvement that actually increase the function and or the value of the house. They sell it quick to...
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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Person A purchases a $1,000,000 house, puts 100k down and signs a 20 year mortgage at 3.48% on Nov 1, 2012
Person A sells the house for $1,100,000 to Person B on Dec 1, 2012
Will Person A...
buying and selling a house in 1 month, how much will taxes and misc fees take out from net sale profit?
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Thread created 09-24-2012 by flightxxx
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Short term gains are taxed at ordinary income.
Carrying costs - Mortgage payment, maintenance, water bill....costs that you incur to hold the house for that period of time.
