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 . 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Indymac Bank Construction Lending Indymac Bank home   |   about us   |   contact us   |   privacy   |   ID notice   |   security   |   careers    1-800-HCL-LOAN (425-5626)   HCL for Individuals   Main Page   Get To Know Us   Get Started Now!   My Project Application   My Loan Information Loan Products   ·   Construction-to-Permanent Loan   ·   Remodeler Loan   ·   Bridge Loan ·   Lot/Land Loan Tools   ·   Line Item Budget Calculator Find A Builder --   ·   Cost To Build Calculator -- Event Calendar -- Help   ·   FAQs   ·   Glossary Customer Service --   ·   Contact Us Lot/Land Loan Found the perfect location to build your dream home ...and now you need the perfect loan? Our Lot Loan is the right loan if you're looking to purchase a residential lot to build your primary residence or second home. Once you have purchased your land, you will have time to design your new home and choose a contractor. Best of all, Indymac Bank will fund your Construction-to-Permanent Loan once you're ready to build. · Loans to $500,000. -- Frequently Asked Questions Check to view all answers. Q. How do I know where I should build my home? A. Location may be one of the most important factors to consider. Although many people have a geographic location in mind, some are open to alternatives. It's important to consider your lifestyle (and those you'll be living with) as well as the cost. If you're planning a family, schools will be important. If not, you may want to consider other factors such as proximity to work, or accessibility to the beach, the mountains or leisure activities. Q. What is a "finished lot"? A. A "finished lot" refers to a portion of land that already has road access and utilities in place to the lot boundary. Additionally, it has been approved by the city or county as a separate parcel of land on a parcel map. Q. Can I buy a piece of land that is not a finished lot and save some money? A. While it may be possible to purchase an unfinished lot, generally this is not advisable for an individual building their own home. The costs of bringing roads and utilities to the first lot in a new area are usually very high. Typically, the first person to build pays for others who will build later. There are land developers who specialize in preparing lots for building (this may include zoning and/or soils issues, as well as bringing roads and utilities to the site, and creating a building pad). Often, these lots are in a planned community. Q. What do you mean by "planned community"? Aren't all communities planned? A. No, many older communities were not planned; they evolved. Certainly, as a city has grown, plans have taken shape. But in many cases the nucleus of a community was started many years before the community or city planning existed. In many instances, it is this unplanned characteristic that gives a community its charm. A planned community, in contrast, generally offers a specific style and certain amenities at a package price. Depending on the size and location of the community, these amenities may include greenbelts, landscaping, biking trials, swimming pools, even schools and shopping centers. Some amenities, such as the community pool and greenbelts, are paid for through a homeowners' association. Others are paid through taxes or mello roos. Still others are design enhancements intended to encourage potential buyers to purchase in an area or to attract more commercial business. Many of the more costly amenities included in a planned community may not be affordable for a homeowner on an individual basis. However, some of these amenities may not be important to you. After all, priorities, like lifestyle, vary. If you select a home in a planned community, you'll generally have a more structured community where decisions are made jointly rather than by the individual homeowner. These community decisions include individual home design and landscaping. While some homeowners may consider this an acceptable trade-off to ensure an attractive environment, others may consider it an infringement on their rights. It's important that you know how you feel before selecting the type of lot you want. Q. Can tax bases differ within the same community? A. Yes, they can. While some cities already have parks, schools, and streets, newer communities built within the same city may have special assessments that cover the costs to develop or maintain new or existing parks, schools, streets, etc. These assessments may be for a prescribed period of time or may continue indefinitely. A little research goes a long way. Here again, a good real estate agent or title company officer can often provide you with this information. Q. I've found the perfect location, but I'm not ready to build my dream home. Can I obtain financing for the land only? A. Yes, you can obtain a Lot Loan. Typically, this is short-term financing for the purchase of a residential lot suited for future construction. This loan allows you time to select an architect, builder, and design your dream home. IndyMac Bank's Lot Loan program allows you to finance up to 50 acres. And when you're ready to build, we offer a one-time close Construction-to-Permanent Loan. ^ back to top Still have questions? Call toll-free 1-800-HCL-LOAN (425-5626) to speak with a construction loan specialist, or downloada copy of our booklet (pdf) that answers the most frequently asked questions about building your own home. Information Center · Glossary · FAQs -- FAQs · Get To Know Us · Building Your Dream Home Magazine (pdf) · Owner Builder Guide (pdf) Consumer Guide to Construction Financing (pdf) Did You Know A Construction Loan Is A Reimbursement Loan? (pdf) subscribe now -- Get Started Now! Apply online 24 hours a day, 7 days a week, and get a loan approval in minutes! get started -- e-mail/mail us | 1-800-HCL-LOAN (425-5626) Licensing | Terms of Use | Site Feedback -- Licensing | Terms of Use | Site Feedback Licensing | Terms of Use | Site Feedback -- Licensing | Terms of Use | Site Feedback -- ©2005 IndyMac Bank, F.S.B. Registered trade/service marks are the property of IndyMac Bank, F.S.B. and/or its subsidiaries.

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Florida Real Estate | Emerald Coast| Beachfront Real Estate | Beach Condos Get Weekly Hotsheet Receive price decreases and new listings by email Name Email . Welcome Home Buyer's Agents Emerald Coast Real Estate Contact Debbie Site Map For Buyers Search the Destin area MLS Destin Area Real Estate Walton County - 30A Real Estate Niceville Real Estate Panama City Beach Real Estate Virtual Tours Listings Beachfront Homes Gulfview Homes Gulfront Lots Gulfview Lots Beach Condos Waterfront Homes Bayfront Lots Bayfront Condos Golf Communities Preconstruction Homes/Cottages Preconstruction Developments Development Land | Acreage Other Resources Real Estate Investing Debbie's Newsletter Real Estate Links Finance Center/ Calculators Maps of Florida - North If you'd like to take advantage of our knowledge and expertise to find your property please use our Emerald Coast Home Finder Investors !!! Monthly Sales Tracker Follow the data you need to make the best investment Know which areas are appreciating the fastest. Follow sq ft prices for your favorite area Project the Return on your Investment over time Decide the best month to sell with average days on market Name Email Licensed Real Estate Brokerage Debbie's Cell 727-487-3532 debbie@uniquepanhandleproperties.com Fax: 1-866-876-3969 PO Box 611668, Rosemary Beach, FL 32461 Your Florida real estate expert For emerald coast real estate including beachfront real estate, beach condos, waterfront homes, golf community homes, luxury estates and vacant land for primary, vacation and investment use. Feel free to search the Florida MLS on your own or use our extensive knowledge of emerald coast real estate to help you find the right real estate investment for you. Using our predefined searches to browse: To assist you, we have set up various search criteria in many of the links contained within this site that will take you to today's active listings for our favorite emerald coast real estate communities, location features and price ranges. To find listings by price range, click on the links for a specific area: Walton County-30A, Panama city Beach, Destin, Niceville or beach condos. To load virtual tours , you will need to click on the photo which will produce numerous photos, enlarge the photo window which pops up and click on the Serving the entire Emerald Coast. Featured Communities: Wild Heron Sandestin Homes Regatta Bay Real Estate Destiny-by-the-Sea Real Estate Destiny Real Estate Kelly Plantation Real Estate Bluewater Bay Real Estate Emerald Bay Real Estate Holiday Isle Homes Santa Rosa Beach Homes Rosemary Beach Real Estate Seaside Real Estate Grayton Beach Real Estate Seacrest Beach Real Estate Seagrove Homes Blue Mountain Beach Homes Watercolor Real Estate Watersound Real Estate If you would like information on any of our properties, please email us or feel free to give us call: Debbie's Cell 727-487-3532 debbie@uniquepanhandleproperties.com Emerald Coast Property Finder This is not processed by email . You must input your email address to receive a response! The internet is a wonderful resource for taking an active part in your real estate search and we encourage you to use our resources. If you are unfamiliar with Emerald Coast real estate, you may prefer to use our assistance in finding a property that meets your needs. We can also send you an email update of new listings that come onto the market or have price changes based on information which you specify For those who'd like to search regularly - Bookmark this page For those who'd like to take advantage of our knowledge and expertise of emerald coast real estate, please fill out the form below and we'll respond promptly. Property Type Detached Home Condo Residential Land Commercial Land Location Ft Walton Beach Destin Niceville Valparaiso S. Walton Beaches N. Santa Rosa Beach Freeport Point Washington Panama City Beach Year Built Any Year After 1970 After 1980 After 1990 After 1995 After 2000 After 2002 After 2004 Not yet Built Beds Baths Limit to this Subdivision Price Range <$300K <$450K <$600K <$800K <$1 million <$1.5 million <$2 million <$3 million >$3 million Sq. Ft Any Sq. Ft > 500 Sq Ft > 1,000 Sq Ft > 1,300 Sq Ft > 1,500 Sq Ft > 1,800 Sq Ft > 2,000 Sq Ft > 5,000 Sq Ft > 7,000 Sq Ft >10,000 Sq Ft Lot Features No requirements Gulf View Gulf Front Near Beach Bay View Bay Front Bayou Canal Any water access Name ** Email Address Phone Additional Requirements and Comments Destin Weather Today's Mortgage Rates Destin 30-A Panama City Niceville Florida Real Estate Real Estate Agents & Realtors This site is a member of WebRing. To browse visit Here .

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Stamford Hill Flat or House to rent or buy. Stamford Hill Flats or Houses to rent or buy. Letting, Sales and Estate Agents. Holiday, Accommodation, Flat, Studio, Home, House or Apartment to rent, let or buy, real estate to rent, let or for sale Stamford Hill N15 Area 3 Map All Area Map Click here to let all Estate Agents and Letting Agents know "I am looking to rent or buy property in Stamford Hill" Rent Guide Stamford Hill Weekly From To Studio £100 £240 1 Bed £120 £275 2 Bed £170 £425 3 Bed £230 £475 Monthly From To Studio £433 £1040 1 Bed £520 £1192 2 Bed £737 £1842 3 Bed £997 £2058 Travel Guide Transport: Stamford Hill Journey Time: ~ 20 mins Area Road Map Other useful links Further Area Info ... Premium Estates Agents and Letting Agents in Stamford Hill Lees Lettings Estates Agents and Letting Agents in Stamford Hill Fab Homes Abba Property Stamford Hill N15 Area Comments large Victorian and Edwardian terraces which are much sought after as family homes. Still largely urban, rather than suburban in character, large council blocks still blight the area although many are now making way for better quality low rise developments. Council Tax Hackney Year-Band A B C D E F G H 2004/2005 £814 £950 £1085 £1221 £1493 £1764 £2035 £2442 2003/2004 £772 £901 £1030 £1158 £1416 £1673 £1931 £2317 2002/2003 £682 £796 £909 £1023 £1250 £1478 £1705 £2046 This page enables you to link to Estate Agents in Stamford Hill and Letting Agents in Stamford Hill to find a flat or house for rent or to let or buy. If you wish to find flats to rent in Stamford Hill or houses for sale in Stamford Hill then the Estate Agent, Letting Agent and Property Consultants shown above can cater for your various needs. The Lettings and Estate Agents in Stamford Hill, N15, are not shown in any preferential order, except by Premium Agents. You can also use our popular feature Click here to let all agents shown above know that "I am Looking in Stamford Hill" to save time and send a single email with your requirements to all the Stamford Hill Estate Agents shown.This entry form will allow you to get your requirements to multiple Lettings and Estate Agents quickly and at the same time. Do you want a house/flat/apartment or studio flat in Stamford Hill? If you want to move to Stamford Hill as an executive or a professional with a family, or you are a student finding somewhere for the first time.The "I am Looking in Stamford Hill" is perfect for you. You can contact many Estate Agents on one go. To help make your responses from agents better you must let the Estate Agent know as much of your requirements as possible including yourbudget, required location(s), furnished or unfurnished, move in date required, tenancy period and any other requirements that you feel are important. Estate Agents and Lettings Agents You Could Be Advertising On This Stamford Hill Estate Agent page. As you will read on this page property and agency searchers use this well established service to send you their requirements. The service and this website are free to use for home buyers and people looking to rent property. If you wish to be included in the list of agents shown above you should contact us. You can start the contact process by clicking here . Looking in Stamford Hill for a place to rent. A room in a flatshare, or house share, a room in a Stamford Hill home. You may wish to review the Stamford Hill Property to Let that the Estate Agents have to offer or you can check out some more specific links with our flatshare, houseshare, a roomshare specialist. Click here to go see our property sharing section Looking for Stamford Hill commercial premises or an industrial unit in Stamford Hill. You may wish to review the Stamford Hill Commercial Property that the Commercial Agents have to offer or you can check out some more specific links with our Commercial page which shows Estate Agency and Lettings Agency offering serviced offices, offices, workshops, studios, live/work, shops, factory space, industrial units and warehouses. Click here to go see our commercial page By letting lots of agents know what you are looking for you can get a good selection of property in Stamford Hill to choose from. Many Estate Agents in Stamford Hill enter into Sole Agency agreements with Vendors and as such that really good property may only appear on that agents books. It may be the Stamford Hill property you have been looking for. So why not use our innovative feature now. Affiliates Flat & House Sharing Property Searches [ Home ] [ FAQ ] [ About Us ] [ Disclaimer ] [ Advertise ] [ Agents ] [ Email Webmaster ] Powered by PCHomes & EstatesIT.Net from Estates IT Limited © 1996-2005

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COMMREX.com - Commercial Real Estate Exchange and Property Listing Service. Mortage finder and Refinance locator. Go" Advertising Info About COMMREX COMMREX.com Austin, Texas 512.346.9158 Fax 512.346.1762 Email Us COMMREX TM Commercial Real Estate Exchange Products and Services Apply for a Commercial Mortgage Online - It's quick, easy and FREE Featured Property Feature your property on this site. Banner Ad Program Place Banner ADS on this site. COMM-Find Find a commercial agent by location and specialization. Find out who looks at your properties!! Participation in the PackageCenter and use of the lead-generation system will tell you who downloaded your flyers or packages when you use our password protected lead-generation system. Save time and money and deliver a benefit to sellers and customers. Become a PackageCenter Participant and find out who is downloading your property packages and data. Learn more ... COMMREX PackageCenter TM Benefits of COMMREX membership Check out the benefits membership in COMMREX offers a commercial real estate professional. eLeads Subscribe to over 140 mailing lists by property type and geographic region. COMMLink Commercial Data Exchange: Integrate your listings in your website. BizCenter Online business tools, tips, and forms. Real Estate Calendar Commercial Real Estate Event Calendar. Add your own Event. Top Real Estate News Preview Todays Top News Real Estate Intelligence GlobeSt Commercial Real Estate News (CRENews) COMMREX Exclusive Create a Profit Center with your own state level or Association licensed COMMREX site. COMMBOT TM Is BACK!! Find Commercial RE Sites by Category. Enter your own! ListingAlerts Store search criteria to be matched against properties added to the system and receive Alerts by email. ©2005 COMMREX.com Internet Media Works! Privacy & Disclaimer Email Webmaster 512.346.9158