1969 Buick GS Stage 2 Prototype

Discussion in 'Cars and Parts For Sale Leads' started by wovenweb, Dec 5, 2021.

  1. 446379H

    446379H Well-Known Member

    Actually I was mistaken . Since the seller did not keep it at least one year for a “ long term “ investment . They’re going to be paying tax on a short term , which could be considerably higher rate .
     
  2. Slgenge

    Slgenge Dream Buick!

    Thats Crazy. so if you sell your house for a profit , do you pay on that?
     
  3. Max Damage

    Max Damage I'm working on it!

  4. tdacton

    tdacton Gold Level Contributor

    No tax for married couple, on first $500k of profit, on sale of Primary home. But yes, investment condo or second home, tax would be applied to these type of home sales.
    Troy
     
  5. Brad Conley

    Brad Conley RIP Staff Member

    And you must live in the primary home for 2 of the previous 5 years before you don't pay taxes on the "profit"...
     
  6. 72STAGE1

    72STAGE1 STAGE 1 & 2

    Unless you re- invest said money, then there’s no tax on Capitol gains. I did that on my last home I sold.
     
    Max Damage likes this.
  7. 2.5

    2.5 Platinum Level Contributor

    I hate taxes!
    I saw this car at Mecum and it was so nice. While walking by it I overheard someone going over the paperwork on the car but didn't stop to listen. That is truly a piece of history.
     

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