Reply to DC residency, taxes, etc, after buying a second home in a no-tax state

Forum Index » Money and Finances

Reply to "DC residency, taxes, etc, after buying a second home in a no-tax state"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Anyone have any experience with attempting to extricate oneself from DC residency while still owning a home in the city? I understand it's more complicated than just "don't spend six months in DC".

The state I've bought in has really lenient residency rules, so it's all about trying to remove myself from DC's rolls while still spending some of the year in a DC home I own.

If I were to rent out my DC home full time, would DC still glare at me for owning a house here?

I know,. I need to talk to a lawyer, but was just wondering if anyone has any personal experience.
[/quote]

The  biggest issues (imo) are to refinance your DC home as a second home (if you have a mortgage) and remove the homestead exemption. Spend less that six months a year in DC. Other than that, do the obvious-- change your paperwork, truly move into the new residence (take things with you that matter- family photos, sentimental items) and treat the DC property as a second house, not a primary family home. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics