Legal Question in Real Estate Law in Florida

Re: Capital Gains

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

This is really a question for your accountant. Yes, to the best of my knowledge you will be responsible for capital gains taxes on the difference between the purchase price and the net proceeds unless you qualify for one of the exemptions including if this was your primary residence which you did not mention. You should speak with your accountant or the attorney handling your closing who will know all the facts and can answer your question directly.

Scott R. Jay, Esq.

Re: Capital Gains

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

This is really a question for your accountant. Yes, to the best of my knowledge you will be responsible for capital gains taxes on the difference between the purchase price and the net proceeds unless you qualify for one of the exemptions including if this was your primary residence which you did not mention. You should speak with your accountant or the attorney handling your closing who will know all the facts and can answer your question directly.

Scott R. Jay, Esq.

Re: Capital Gains

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

This is really a question for your accountant. Yes, to the best of my knowledge you will be responsible for capital gains taxes on the difference between the purchase price and the net proceeds unless you qualify for one of the exemptions including if this was your primary residence which you did not mention. You should speak with your accountant or the attorney handling your closing who will know all the facts and can answer your question directly.

Scott R. Jay, Esq.

Re: Capital Gains

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

This is really a question for your accountant. Yes, to the best of my knowledge you will be responsible for capital gains taxes on the difference between the purchase price and the net proceeds unless you qualify for one of the exemptions including if this was your primary residence which you did not mention. You should speak with your accountant or the attorney handling your closing who will know all the facts and can answer your question directly.

Scott R. Jay, Esq.

Re: Capital Gains

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

This is really a question for your accountant. Yes, to the best of my knowledge you will be responsible for capital gains taxes on the difference between the purchase price and the net proceeds unless you qualify for one of the exemptions including if this was your primary residence which you did not mention. You should speak with your accountant or the attorney handling your closing who will know all the facts and can answer your question directly.

Scott R. Jay, Esq.

Re: Capital Gains

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

This is really a question for your accountant. Yes, to the best of my knowledge you will be responsible for capital gains taxes on the difference between the purchase price and the net proceeds unless you qualify for one of the exemptions including if this was your primary residence which you did not mention. You should speak with your accountant or the attorney handling your closing who will know all the facts and can answer your question directly.

Scott R. Jay, Esq.