Vacation-home seller prepares for tax bite
Benefits lost if property isn't used as personal residence or rental
By Robert Bruss, Wednesday, October 3, 2007.Editor's note: Robert Bruss passed away on Sept. 26, 2007. This was one of the last real estate columns he wrote. Inman News is publishing Bob's last work as a final salute to the nation's most well-known real estate writer.
DEAR BOB: How can I sell my vacation home without paying capital gains tax? --Kristie H.
DEAR KRISTIE: The only easy way to avoid tax on the sale of a vacation home is to sell it at a loss. Just joking!
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