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Reply to "Sell or rent out starter home?"
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[quote=Anonymous][quote=Anonymous]OP - sorry haven't checked this thread in last 24 hours. I want to clarify that reason note is so low on house is I've been putting my bonus to pay down HELOC. My cap gains would only be around $100k if I sold the house, not $300k. It seems the "keep it and rent" folks have started chiming in. I have 2 years to see how I like renting and can still sell and take the gain tax free. I may do that as an experiment. May also be better bc I likely won't close on new house until August which puts me out of the selling season on old house. [/quote] The 300k capital gains applies to me (the one with the townhouse). The guy posting about having capital gains as a reason not to rent a home is ridiculous. I'd rather owe money because my money is growing and working for me. I'm also able to depreciate things as well...my money will have made more renting it then elsewhere.[/quote]
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