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If i sell a rental property for a loss, is the capital gains loss a deduction from my taxable income
I just recently put a home I've lived in for the past four (4) years on the market as a rental property. In doing my homework I understand record keeping is essential and am planning to open up a seperate checking or saving account, specifically for this rental property. Can anyone give me advice on how the account should be titled or is this really irrelevant. Would it be ok to have the account titled "My name - Rental Property"? Just curious. Thanks.
by NiaG2 years ago
What do you enjoy most about being a rental property owner nationally or internationally?I'm interested in renting out property internationally.
by LaThing4 years ago
If you had about $40,000 to invest where would you invest it?Home, shares, business, etc..... Which one would be your best move?
by GA Anderson2 years ago
You work hard to build a fortune that you can pass on to your kids, or otherwise distribute however you desire on your passing. It is your money. Shouldn't you be able to do whatever you want with it, within our legal...
by Kelly Kline Burnett7 years ago
A friend of mine is evicting his tenants. Sadly this house contains my beautiful furniture - long, torrid story. I knew the risks and the worst case is coming to fruition. He thinks they will leave in...
by Pankaj Pathak7 years ago
Capital Gains Tax India on Sale of Residential PropertyCan somebody please help me understand the income tax treatment of capital gains tax on sale proceeds of residential property?
by Cindy Pierre5 years ago
Could a flat tax work if it was implemented with exceptions?If a flat tax was implemented having exclusions like food, but a higher rate on luxury items would it work?
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