after selling a rental proprety do I have to buy another proprety or can I pay off my own house

Profile picture for jorginho003
After selling my commercial residential proprety do I have to buy another residential proprety or can I pay off my own House
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

December 30 2010 - Harrison
 Share
 RSS
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Profile picture for TravisWallerCRS
Speak to a tax attorney or your accountant regarding your liability of your capital tax gains.

Happy New Year!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

January 01 2011
Profile picture for wetdawgs

Are you asking because of capital gains?   If you roll the money into another rental property, you probably won't owe capital gains at this time (see 1031 exchanges on the www.irs.gov website).   If you put the money to pay off your personal residence (or anything else other than rolling into a similar property) , you may owe capital gains.    Please consult with a tax professional for the details and confirmation.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

December 30 2010
Profile picture for Cvillecpm

You need to talk to a tax professional.  You may owe capital gains on the sale of your investment.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

December 30 2010
 

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion

E-mail successfully sent!Submission failed!

Related Questions
Profile picture for Travis Waller
Questionafter selling a rental proprety do I have to buy another proprety or can I pay off my own house
  • Latest answer by Travis Waller
  • January 01 2011
Related Articles
GuideOwning vs Renting a Home
  • In Rentals
  • Edited September 07 2010
GuideHow to do Lease option - by Example
GuideHome Rental Guide
GuideWhich is Better? Renting or Buying?
GuideThe Buyer's Market versus the Renter's Market
Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy