Las Vegas Real Estate

Homepage of the California Department of Real Estate (DRE) California Home DRE Home Contact Us What's new About DRE Careers at DRE DRE Records Consumers Escrow Violations eLicensing Examinees Licensees Subdivisions Real Estate Law Regulations Publications Forms FAQs Links Index Department of Real Estate START Examinees and Licensees: Use eLicensing for expedited processing of: Examination services Mailing address changes License renewals Salesperson additions/changes of employing broker Broker certification of salesperson employment Broker discontinuation of salesperson employment Duplicate license requests Additional services Learn to use eLicensing It's easy, paperless and interactive! Resources Key Announcements Brokers Must Report Commission Payments on 1099s Real estate brokers are required to report commission payments of $600 or more to brokers and salespersons on Form 1099-MISC, Box 7 - Nonemployee Compensation. For more information, see 1099 Reporting for Real Estate Brokers published by the Franchise Tax Board. Combination examination and license applications are now available: Broker Examination/License Sales Examination/License Expanded Services: Use eLicensing to apply for the salesperson exam Important Information About: Application Processing Timeframes Satellite Exam Sites for Salespersons and Brokers Can't find what you're looking for? Try the Index Featured Items Topics of Interest: Gulf Coast Hurricanes CalHFA First Time Homeownership Program Instructions to License Applicants Help Avoid DENIAL of Your License Application Guides for First Time Home Buyers and Renters Information for Homebuyers Apply Online for a CalVet Home Loan Predatory Lending Prevention Investigate Before You Invest Small Business and DVBE Opportunities Workers' Compensation Coverage Flex Your Power - Be Energy Efficient! Find out how you can save money, save energy, and save natural resources.   more My CA Customer Survey Course & Instructor Evaluation Back to Top of Page Conditions of Use | Privacy Policy | Tech Problems 2003 State of California This page last modified on Wednesday, December 28, 2005

Rental Property How much

Selling Your Rental Property Intuit Home Intuit Products Support | Order Status | Shopping Cart Home Online Products Desktop Products Business Tips & Resources Sign In Automatic Renewal My Downloads Tax Tips & Topics Business Taxes Education & Taxes Employment Taxes Family & Taxes Homeowners & Taxes Investments & Taxes Retirement & Estate Taxes Tax Law & the IRS Tax Planning & Savings Tax Prep & Filing E-mail this Print this Selling Your Rental Property How much money am I going to make, after taxes, when I sell my rental property? Are you finally selling your rental property? Was dealing with that last tenant just more than you can stand to go through again? Did you just hear that the vacant land next to your property will be developed into a state college causing your rental property to realize a 10-fold increase in value? Are you approaching retirement and eager to liquidate your investment in order to travel the world, or just relax and take it easy? After finding a buyer and discussing a price, you may wonder what the sale will cost you in taxes and what your after-tax cash flow will be. Before you close the sale, then, you should figure out how much of your proceeds will go to Uncle Sam and how much you will be able to keep. You want to know how much cash you can expect to flow through your hands, after paying fees, costs, and taxes. How can I figure my gain ? Is my gain taxed as ordinary income or capital gain ? How do I report the sale ? What is my after-tax cash flow ? How Can I Figure My Gain? The amount you get for your rental property is the gross sales price. The first step in calculating your taxable gain is to figure out your net sales price. 1. Subtract All Your Selling Costs from the Gross Sales Price. You'll need a copy of your closing or settlement statement at hand to help you identify the costs involved in selling the property. But don't just assume that all costs on your closing statement can be considered selling costs . Pull out any rental expenses. Your closing statement may include items that were prepaid by you, such as property taxes, insurance, or homeowner's association fees. It may also include items that remain unpaid by you as of the sale date, such as rental deposits or property management fees. These items are ordinary and necessary rental expenses that you should report as part of your rental income or loss on Schedule E rather than as part of your property sale. After filtering out the rental items, add up all the selling costs; such as: Commissions on the sale Document recording costs Legal fees related to the sale Survey fees Title fees or costs Transfer fees Now, subtract your total selling costs from your gross sales price. The result is your net sales price. For example, if you have a total selling cost of $25,400, and your gross sales price is $550,000, your net sales price is $524,600. But how much of the net sales price is your profit, or taxable gain? 2. Subtract the Cost of the Property from the Net Sales Price. To figure your profit, or taxable gain on the sale, you need to subtract the cost of the property from the net sales price. But, naturally, adding up all your costs can take a little work. You need to know how much the property has cost you, starting way back when you bought it, and proceeding through the years as you made improvements (costing your more money), or took deductions for depreciation over the years (reducing your cost). The result is called your adjusted basis, because it has been heavily adjusted over the years, and it forms the basis of any calculation of profit or loss. (For more details, see The Tax Aspects of Selling Your Home . Subtract your adjusted basis in the property from the net sales price, to get your taxable gain. Example: Sally owns a rental property that she originally purchased for $320,000 (of which the portion allocable to land is $100,000), and over the years she has taken depreciation deductions of $115,667 for this property. She is considering an offer to sell the property for $450,000. She estimates that the selling costs will include real estate commissions of 6 percent and other costs of 1 percent of the sales price. Sally's net gain on the sale would be $214,167, calculated as follows: Gross sales price $450,000 Less selling costs at 7 percent 31,500 Net sales price $418,500 Less adjusted basis: Cost basis $320,000 Less depreciation allowed 115,667 Adjusted Basis 204,333 Net gain $214,167 Is My Gain Taxed as Ordinary Income or as a Capital Gain? When you sell a property you've owned for more than a year, the gain (the selling price less your selling costs and your adjusted basis in the property) is taxed at capital gains rates, which are lower than the regular income tax rates. The particular capital gains rate that's used depends on several factors. Most capital gains on sales of rental property are taxed at 15 percent but any gains due to depreciation you have already taken are taxed at 25 percent. Ordinary income, on the other hand, can be taxed with rates as high as 35 percent in 2004. Therefore, it's important to understand how much of your gain will be taxed at ordinary income tax rates and how much will be taxed at capital gains rates. Note: The tax rates addressed here are federal taxes rates only. Any state taxes that may also be due are in addition to the federal taxes. For Property Purchased in 1987 or Later If your property was purchased in 1987 or later: all of your gain will be considered capital gain, but there's a catch: while most long-term capital gains are taxed at a maximum rate of 15 percent, any portion of your gain that's attributed to any depreciation taken on your property is taxed at a special maximum rate of 25 percent. This applies to all depreciation taken on the property. (Note: Beginning in 1987, the only kind of depreciation you could take on the property was the straight-line method). Example: Continuing our example in the last section, Sally placed her rental property into service as a rental in 1988. She decided to depreciate her property on the straight-line basis over 27.5 years, so her total depreciation deductions from 1988 through 2003 amounted to $115,667. Of her $214,167 gain, $115,667 would be taxed up to the special 25 percent capital gains rate for depreciation and $98,500 would be taxed at the 15% capital gains tax rate. For Property Purchased Before 1987 If you acquired the property before 1987, the ordinary income portion of a gain on the sale of Section 1250 property consists of any additional depreciation taken on the property. Additional depreciation is accelerated depreciation that goes beyond what the depreciation would have been if it had been calculated using the straight line method. If your property was purchased before 1987 for residential rentals, additional depreciation on property acquired before 1987 is calculated for all years after 1975. For nonresidential rentals, additional depreciation is calculated for all years after 1969. The total additional depreciation (which is taxed at ordinary income tax rates) is deducted from the net gain in order to determine the amount of the gain subject to capital gains rates. This process is what's known as depreciation recapture. Essentially, because you were able to deduct depreciation expenses from ordinary income while you owned your rental property, you now pay the price at the time of sale: part of the gain on your property is taxed at ordinary income tax rates, in this case, your additional depreciation. Example: Joe purchased his rental property in 1985 for $320,000. He depreciated his property on an accelerated basis over 18 years, resulting in total depreciation deductions of $235,000. Had he used the straight-line method to calculate depreciation, his depreciation deduction would have been $229,000. Under the rules applicable to property purchased before 1987, his additional depreciation is $6,000. Assuming he sold his property for $418,500, of his $333,500 gain, $6,000 would be taxed at his ordinary tax rates and $327,500 would be taxed as capital gain. For more information see, FAQ on Capital Gains . Giving a Nod to Section 1231 Rental real estate, held for more than one year, falls under the definition of Internal Revenue Code Section 1231 and is therefore called Section 1231 property . A gain from the sale of section 1231 property can be either ordinary income to you (as a result of additional depreciation recapture if the property was purchased before 1987) or capital gain, or both. Section 1231 gains that are not subject to depreciation recapture (which is ordinary income) are long-term capital gains. Good news: If you have a loss on the sale of Section 1231 property, the loss is an ordinary loss, meaning that it reduces your ordinary income, not your capital gains income. Section 1231 gives you the best of both worlds, because gains are long-term capital gains (after depreciation recapture) and losses are non-capital, or ordinary, losses. How do I Report the Sale? You report the sale of a rental property on IRS form 4797: Sales of Business Property. The gross sales price, cost or other basis plus expenses of sale, depreciation allowed or allowable, adjusted basis, and total gain are all reported on Page 2, Part III, lines 20 through 24. If the property is Section 1250 property (which is just about any rental property), any ordinary income recapture is calculated on line 26. The capital gains portion of your gain is determined by subtracting the additional depreciation from the total gain. These amounts are carried to page 1 of Form 4797, where this capital portion is netted with other Section 1231 transactions. Transfer the net of Section 1231 transactions from page 1 of Form 4797 to Form 1040, Schedule D, Capital Gains and Losses. Put the ordinary income portion of your gain on line 14 of Form 1040, while your net capital gains from Schedule D are carried to line 13a of Form 1040. If your sale results in a loss, the entire loss is carried to line 14 on Form 1040 and is available to offset income from other sources. What is My After-Tax Cash Flow? Now that you have calculated your tax, you can calculate your net cash proceeds from the sale of the property. Enter your net sales price. Subtract any outstanding loan, to get a subtotal. Multiply the net gain (calculated in the previous example) by the capital gain rate of 25 percent on the part of the gain that represents depreciation and 15 percent on the rest of the gain. Subtract that figure from the subtotal, to see your net cash flow. Example: In our example, assume that Sally had decided she would not sell the rental property unless she could wind up with at least $200,000 cash after taxes and loan repayment. Assume she had an outstanding loan of $125,000 and other taxable income in her return. Her capital gains rates are affected by her other income. She calculates her after-tax cash flow as follows: Net sales price $418,500 Less repayment of the outstanding loan 125,000 Subtotal $293,500 Capital gains taxes at up to 25% & 15% $43,692 Net cash flow (before state taxes) $249,808 Based upon the above calculation, Sally would prefer to sell the rental property because her after-tax cash flow meets her requirements. Caution: Different states have different rules for taxing capital gains. Here, we have not considered the state tax impact. But, before making the sale, you should familiarize yourself with the state tax rules. If the property is located in a state other than your state of residence, it may be wise to study the rules of both the state in which the property is located and your state of residence, because both states may be very interested in your gain. For more on capital gains, see FAQ on Capital Gains . Home | Online Products | Desktop Products | Business | Tax Tips & Resources | Support Center | Site Index Intuit | Privacy Promise | Feedback | Quicken | Affiliates ©1997-2005 Intuit Inc. Trademark Notices By accessing and using this page you agree to the Terms of Service Software License Agreement

Sell House

Question: How do you prepare a house to sell? español Put My Century 21 to work for you, simply register your email address and create a password. Once you're registered, you'll be able to • save property descriptions • store your search criteria • file agent information • build a custom library Find out more or register now! Already registered? Sign in . Learn about Real Estate Selling Pricing the House to Sell Question: How do you prepare a house to sell? Question: How do you prepare a house to sell? Answer: Doing whatever you can to put your house's best face forward is very important if you want to get close to your asking price or sell as quickly as possible. Short of spending a lot of money, here are several ideas for making your home show better: * Sweep the sidewalk, mow the lawn, prune the bushes, weed the garden and clean debris from the yard. * Clean the windows (both inside and out) and make sure the paint is not chipped or flaking. And speaking of paint, if your home was built before 1978, new federal law gives a buyer the right to request a lead inspection. If you think you might have some problems, do the inspection yourself beforehand and make any fixes you can. * Be sure that the doorbell works. * Clean and spruce up all rooms, furnishings, floors, walls and ceilings. It's especially important that the bathroom and kitchen are spotless. * Organize closets. * Make sure the basic appliances and fixtures work. Get rid of leaky faucets and frayed cords. * Make sure the house smells good: from an apple pie, cookies baking or spaghetti sauce simmering on the stove. Hide the kitty litter. * Put vases of fresh flowers throughout the house. * Having pleasant background music playing in the background also will help set your stage. c 2000 Inman News Features All Rights Reserved -- ©2005 Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each CENTURY 21 Office Is Independently Owned And Operated. All rights reserved. Information appearing on this site has been produced by or obtained primarily from Century 21 Real Estate LLC and its representatives and from CENTURY 21 franchisees. Century 21 Real Estate LLC is not responsible for the accuracy or completeness of the broker information, sales associate information, listing information or other information provided by our franchisees appearing on or through this site. Such information has been provided by independent third parties who are solely responsible for such content. Certain conditions and restrictions apply to System promotions. Terms and Conditions of Use.

Real estate prices and

Real estate price index, annually. 1981=100 - Statistics Sweden Find: A-Z Content Search Find more on the website --------------------------- Agriculture, forestry and fishery Business activities Citizen influence Culture and leisure Education and research Energy Environment Financial markets Health and medical care Household finances Housing and construction Information technology Judicial system Labour market Living conditions National accounts Population Prices and Consumption Public finances Social insurance Social services Trade in goods and services Transport and communications --------------------------- Use Sweden's Statistical Database Maps About Sweden's Statistical Database --------------------------- Publication plan Publications About the publications --------------------------- International statistics Information and Library Economic statistics Regional statistics Methodology --------------------------- Information services Statistics Sweden's Business Register SCB International Consulting Order international statistics Order Swedish statistics --------------------------- Swedish Statistics Net Other statistical sources Housing and construction Real estate prices and registrations of title Real estate price index Annual figures. Index 1981=100. As a comparison the consumer price development is also shown Download Data and graphs for printing out (101 kb) Comments The graph shows the development of prices for one- and two-dwelling buildings for permanent living, buildings for seasonal and secondary use and multi-dwelling and commercial buildings. The price level is expressed as an index, with base year 1981=100. The graph for one- or two dwelling buildings and buildings for seasonal and secondary use are the official real estate price index, while the graph for multi-dwelling and commercial buildings is the purchase-price coefficient transformed into a graph. The development of consumer prices has been included in the graph to further illustrate the development of prices. The late 1980s was a period with very rapid price increases. The downturn of the economy in the early 1990s ended this and the price level decreased for three years. During the latter half of the 1990s, price increases have again been considerable. For the whole period, consumer prices have increased at a much slower pace than real estate prices. Press information Statistical Databases More graphs on real estate prices Real estate price index, annual changes To Economic statistics To Business cycle indicators Top of page Updated: 2005-06-01

Denver Real Estate Lawyers

Spotlight: Denver Real Estate Lawyers on Denver Citysearch 7 BOC Spa & Beauty: 7 days till voting begins -- New to Citysearch? Sign In · Help · Dec 29 2005 Home Restaurants Bars & Clubs Hotels Shopping Spa & Beauty Movies Events See More Categories » Search Business name, category, and/or keyword Search by name only Address, city & state, or zip | Neighborhood Address, city & state, or zip | Neighborhood Address, city & state, or zip | Airport Address, city & state, or zip | Attraction Select a Denver Neighborhood Adams County Arvada Aurora Boulder Broomfield Castle Rock Central Denver Cherry Creek Colorado Springs Denver Intnl Airport Denver Tech Ctr Downtown Englewood Evergreen Golden Highlands Ranch Lakewood Littleton Longmont Louisville Park Meadows Parker South Denver Westminster Select an Denver Airport Select an Denver Attraction My Locations Add/edit locations Recent Locations Clear recent locations Spotlight: Denver Real Estate Lawyers Find top real estate lawyers in Denver. Citysearch has recommendations, ratings, tips and more for real estate lawyers in and around Denver. On This Page: Real Estate Lawyers Real Estate Lawyers Back to Top Drantch, Mitchel S - Mitchel S Drantch Law Offices 1780 S Bellaire St Ste 584, Denver, CO Lees, Robert A - Robert A Lees & Associates 5290 DTC Pkwy Ste 150, Greenwood Vlg, CO Meinhold, Don H. - Castle Meinhold & Stawiarski, LLC 102 N Cascade Ave Ste 350, Colorado Springs, CO Lewis, Robert - Ducker Montgomery & Lewis 1560 Broadway Ste 1400, Denver, CO Castle Meinhold & Stawiarski, LLC 999 18th Street, Suite 2201, Denver, CO Holt, Jennifer Ilene - Jennifer Ilene Holt Suite 2525, 1660 Lincoln Street, Denver, CO Ducker, Montgomery, Aronstein & Bess, P.C. Suite 1400, 1560 Broadway, Denver, CO Kerr Brosseau Bartlett O'Brien, LLC 1600 Broadway, Suite 1600, Denver, CO Bennington Johnson Biermann & Craigmile, LLC 370 17th Street Suite 3500, Denver, CO Stutz, Miller & Urtz, LLC 1660 Lincoln Street Suite 2850, Denver, CO Fowler, Schimberg and Flanagan, Professional Corporation 1640 Grant Street, Suite 300, Denver, CO Holland & Hart LLP 555 Seventeenth Street Suite 3200, Denver, CO Pryor Johnson Carney Karr Nixon, P.C. 5619 DTC Parkway, Suite 1200, Denver, CO Jacobs, Paul - Jacobs Chase Frick Kleinkopf 1050 17TH St Ste 1500, Denver, CO Go to Website McElroy, Deutsch, Mulvaney & Carpenter, LLP 1700 Broadway, Suite 1900, Denver, CO Castle, Lawrence E - Castle Meinhold Stawiarski LLC 1099 18TH St Ste 1600, Denver, CO Myer, Swanson, Adams & Wolf, P.C. 1600 Broadway, Suite 1480, Denver, CO Davis Graham & Stubbs LLP 1550 Seventeenth Street, Denver, CO Thomas N. Scheffel & Associates, P.C. 3801 East Florida Avenue, Suite 600, Denver, CO Plotkin, John C. - Sterling & Gregory, LLC 1331 17TH St Ste 602, Denver, CO Related links: Search anything in Denver · Search Yellow Pages in Denver · Search other Cities · Browse Other Denver Editorial Lists About Us | Advertise with Us | Contact Us | Press Center | Site Guide | List Your Business on Citysearch | Become an Affiliate | Job Opportunities | Other Cities | Get a Business Website | Submit an Event | Privacy Policy | Terms of Use | Denver Yellow Pages Citysearch is a registered trademark of 720619 Ontario Inc. and is used under license (C) 2005 Citysearch.com All rights reserved. partner sites: Evite - Entertainment.com - Gifts.com - TripAdvisor - ServiceMagic - Ticketmaster - Expedia - Hotels.com - Hotwire - HSN - LendingTree - Match.com - RealEstate.com - ReserveAmerica - Zerodegrees - CondoSaver - ClassicVacations - Ballard Designs - Frontgate - Garnet Hill - Smith+Noble - The Territory Ahead - Travel Smith