I am on the cusp of a major life-changing decision...

[gipper]

You will NOT be subject to capital gains taxes on the sale of you private residence. You will pay no taxes.

How's that?

Capital gains taxes do not apply to the sale of private residences. Exception being very expensive residences. The tax applies to rental real estate. Ask me how I know?

Is it the same in every state?

States may have taxes, but we are talking about federal.

We're talking about capitol gain taxes from the sale of real estate. You said you don't pay taxes on that and to ask you why. I did, and your only answer is... states may have taxes, but we're talking about federal?

Do you pay taxes on the sale of real estate or not, state or federal, you sounded like you knew.

LOL.

Not in my state. Sorry but I am not a tax accountant. There are 50;states you know?

There is a distinction between real estate you call home and real estate you own and rent to others.

 

[007]

I have no clue, but I fear you are too old for that life style. I know of young people who have done it very cheaply.

I'm 53, why would I be too old to rough it a bit? I don't have any aches or pains, or trouble getting around.

Why? If you have money, why would you want to live like a bum?

Is this some kind of a gag you are playing?

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

Not only that, but cost of living is also extremely high. If you know you can make a good income there, then why live like a hobo traveling Europe.

He certainly wouldn't be "living like a hobo" if he decided to go Europe.

 

[007]

I have no clue, but I fear you are too old for that life style. I know of young people who have done it very cheaply.

I'm 53, why would I be too old to rough it a bit? I don't have any aches or pains, or trouble getting around.

Why? If you have money, why would you want to live like a bum?

Is this some kind of a gag you are playing?

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

The other alternative is Los Angeles, but it's hard for me as a lawyer to get a good paying job anywhere in California. Also, it's not far enough from my ex-wife.

Well... your choices seem to me to be self defeating. Sounds like you want to sell your home and go broke.

 

[gipper]

I'm 53, why would I be too old to rough it a bit? I don't have any aches or pains, or trouble getting around.

Why? If you have money, why would you want to live like a bum?

Is this some kind of a gag you are playing?

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

Not only that, but cost of living is also extremely high. If you know you can make a good income there, then why live like a hobo traveling Europe.

Because I've always wanted to travel Europe like the young people do. I never got to do that because I had kids so early in life.

Forget that. Dumb idea. You’re not 20 years old. The first time you sleep on a park bench in 20 degree temperatures, will dissuade you of this idea.

 

[Erinwltr]

I am divorced, and as of April 1, my daughter will get her own apartment, leaving me with an empty nest for the first time in my adult life.

My ex-wife walked away without any interest in our home. That was her decision, but I now own a home with a lot of equity and I've been thinking it's my retirement nest egg.

But recently, I made a new friend and she is going to China to be an ESL teacher, and she inspired me that maybe I need to make a drastic change as well.

I'm thinking of selling my home, traveling through Europe for a few months, then relocating to New York City.

In New York, I can get a job as an immigration lawyer and then pursue a new career as a writer.

The main reason I want to make a break is because of my ex-wife, who is still in my life despite the fact that she lives with her boyfriend.

My home is still filled with reminders of her, she decorated it, there are pictures everywhere, and she comes in my home any time she feels like it. We are friends, and we still do things together like watch TV and go to movies and bowling and restaurants. She still participates in family events like Thanksgiving and Christmas. She even decorates the house for Christmas and picks out the tree.

I feel like she is holding me back because she has her own separate life with her boyfriend but I do not have separate life without her. If I had a new relationship with a woman, it would be very awkward because my ex-wife would just walk in my home like she still owns the place and then I would have to explain that.

Also, because my ex-wife and I had children very early in our lives, there is lots I've never done, including going to Europe. For the first time in my life I have nothing holding me back and I want to take a long trip to Europe.

I am pretty sure I would get raped on capital gains taxes if I sold my home and did not buy another, but I'm willing to pay the tax so I can get a new beginning in my life, away from my ex-wife.

This would be a big break for me because I would leave behind everyone I know, but I am convinced I can make new friends in New York because I would join writers groups and participate in writers conferences and New York is the center of the world for writing.

I'm not really asking for anyone's permission, I just felt like sharing this.

You will NOT be subject to capital gains taxes on the sale of you private residence. You will pay no taxes.

Thank you, I was reading through this thread hoping someone would bring that issue up. Isn't the capital gains tax break for your first home bought and sold?

 

[Blackrook]

I'm 53, why would I be too old to rough it a bit? I don't have any aches or pains, or trouble getting around.

Why? If you have money, why would you want to live like a bum?

Is this some kind of a gag you are playing?

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

The other alternative is Los Angeles, but it's hard for me as a lawyer to get a good paying job anywhere in California. Also, it's not far enough from my ex-wife.

Well... your choices seem to me to be self defeating. Sounds like you want to sell your home and go broke.

No, I can get a job in New York as an immigration lawyer.

 

[007]

I'm 53, why would I be too old to rough it a bit? I don't have any aches or pains, or trouble getting around.

Why? If you have money, why would you want to live like a bum?

Is this some kind of a gag you are playing?

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

Not only that, but cost of living is also extremely high. If you know you can make a good income there, then why live like a hobo traveling Europe.

Because I've always wanted to travel Europe like the young people do. I never got to do that because I had kids so early in life.

I have friends in Europe, Germany to be specific, and they're doing fine.

Say you got $300,000 for your home, just guessing, that would sustain you for quite awhile in Europe, and you should have a nest egg left to still put a down payment on another home if you want, but not in LA or NYC.

 

[gipper]

I am divorced, and as of April 1, my daughter will get her own apartment, leaving me with an empty nest for the first time in my adult life.

My ex-wife walked away without any interest in our home. That was her decision, but I now own a home with a lot of equity and I've been thinking it's my retirement nest egg.

But recently, I made a new friend and she is going to China to be an ESL teacher, and she inspired me that maybe I need to make a drastic change as well.

I'm thinking of selling my home, traveling through Europe for a few months, then relocating to New York City.

In New York, I can get a job as an immigration lawyer and then pursue a new career as a writer.

The main reason I want to make a break is because of my ex-wife, who is still in my life despite the fact that she lives with her boyfriend.

My home is still filled with reminders of her, she decorated it, there are pictures everywhere, and she comes in my home any time she feels like it. We are friends, and we still do things together like watch TV and go to movies and bowling and restaurants. She still participates in family events like Thanksgiving and Christmas. She even decorates the house for Christmas and picks out the tree.

I feel like she is holding me back because she has her own separate life with her boyfriend but I do not have separate life without her. If I had a new relationship with a woman, it would be very awkward because my ex-wife would just walk in my home like she still owns the place and then I would have to explain that.

Also, because my ex-wife and I had children very early in our lives, there is lots I've never done, including going to Europe. For the first time in my life I have nothing holding me back and I want to take a long trip to Europe.

I am pretty sure I would get raped on capital gains taxes if I sold my home and did not buy another, but I'm willing to pay the tax so I can get a new beginning in my life, away from my ex-wife.

This would be a big break for me because I would leave behind everyone I know, but I am convinced I can make new friends in New York because I would join writers groups and participate in writers conferences and New York is the center of the world for writing.

I'm not really asking for anyone's permission, I just felt like sharing this.

You will NOT be subject to capital gains taxes on the sale of you private residence. You will pay no taxes.

Thank you, I was reading through this thread hoping someone would bring that issue up. Isn't the capital gains tax break for your first home bought and sold?

No I don’t think so. It applies to every home. Of course, there are limitations for high earners.

 

[007]

Why? If you have money, why would you want to live like a bum?

Is this some kind of a gag you are playing?

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

The other alternative is Los Angeles, but it's hard for me as a lawyer to get a good paying job anywhere in California. Also, it's not far enough from my ex-wife.

Well... your choices seem to me to be self defeating. Sounds like you want to sell your home and go broke.

No, I can get a job in New York as an immigration lawyer.

Do you realize how much BETTER you could live in another part of the country?

 

[Blackrook]

Why? If you have money, why would you want to live like a bum?

Is this some kind of a gag you are playing?

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

Not only that, but cost of living is also extremely high. If you know you can make a good income there, then why live like a hobo traveling Europe.

Because I've always wanted to travel Europe like the young people do. I never got to do that because I had kids so early in life.

I have friends in Europe, Germany to be specific, and they're doing fine.

Say you got $300,000 for your home, just guessing, that would sustain you for quite awhile in Europe, and you should have a nest egg left to still put a down payment on another home if you want, but not in LA or NYC.

Ok, but the reason I want to live in NY is that is where all the publishers are. I guess I could go live in Texas and get a big spread.

 

[Blackrook]

I might be happier in Texas, the people in that state are a lot friendlier than people in New York. I can tell you that for sure, because I've been to both.

 

[007]

How's that?

Capital gains taxes do not apply to the sale of private residences. Exception being very expensive residences. The tax applies to rental real estate. Ask me how I know?

Is it the same in every state?

States may have taxes, but we are talking about federal.

We're talking about capitol gain taxes from the sale of real estate. You said you don't pay taxes on that and to ask you why. I did, and your only answer is... states may have taxes, but we're talking about federal?

Do you pay taxes on the sale of real estate or not, state or federal, you sounded like you knew.

LOL.

Not in my state. Sorry but I am not a tax accountant. There are 50;states you know?

There is a distinction between real estate you call home and real estate you own and rent to others.

He's made the distinction. He owns his home. Will he pay capitol gains tax on it or not?

 

[Blackrook]

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

The other alternative is Los Angeles, but it's hard for me as a lawyer to get a good paying job anywhere in California. Also, it's not far enough from my ex-wife.

Well... your choices seem to me to be self defeating. Sounds like you want to sell your home and go broke.

No, I can get a job in New York as an immigration lawyer.

Do you realize how much BETTER you could live in another part of the country?

That is true. I guess if my goal is to get out of my rut, it doesn't have to be New York.

 

[gipper]

Capital gains taxes do not apply to the sale of private residences. Exception being very expensive residences. The tax applies to rental real estate. Ask me how I know?

Is it the same in every state?

States may have taxes, but we are talking about federal.

We're talking about capitol gain taxes from the sale of real estate. You said you don't pay taxes on that and to ask you why. I did, and your only answer is... states may have taxes, but we're talking about federal?

Do you pay taxes on the sale of real estate or not, state or federal, you sounded like you knew.

LOL.

Not in my state. Sorry but I am not a tax accountant. There are 50;states you know?

There is a distinction between real estate you call home and real estate you own and rent to others.

He's made the distinction. He owns his home. Will he pay capitol gains tax on it or not?

Blow me!

 

[007]

Because I am planning to live in New York City, so I can't spend all my money in Europe.

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

Not only that, but cost of living is also extremely high. If you know you can make a good income there, then why live like a hobo traveling Europe.

Because I've always wanted to travel Europe like the young people do. I never got to do that because I had kids so early in life.

I have friends in Europe, Germany to be specific, and they're doing fine.

Say you got $300,000 for your home, just guessing, that would sustain you for quite awhile in Europe, and you should have a nest egg left to still put a down payment on another home if you want, but not in LA or NYC.

Ok, but the reason I want to live in NY is that is where all the publishers are. I guess I could go live in Texas and get a big spread.

Hell man... there's this thing called the INTERNET, that we're on right now, and you can contact any publisher in the WORLD. You don't have to live in NYC to contact publishers.

 

[Erinwltr]

I am divorced, and as of April 1, my daughter will get her own apartment, leaving me with an empty nest for the first time in my adult life.

My ex-wife walked away without any interest in our home. That was her decision, but I now own a home with a lot of equity and I've been thinking it's my retirement nest egg.

But recently, I made a new friend and she is going to China to be an ESL teacher, and she inspired me that maybe I need to make a drastic change as well.

I'm thinking of selling my home, traveling through Europe for a few months, then relocating to New York City.

In New York, I can get a job as an immigration lawyer and then pursue a new career as a writer.

The main reason I want to make a break is because of my ex-wife, who is still in my life despite the fact that she lives with her boyfriend.

My home is still filled with reminders of her, she decorated it, there are pictures everywhere, and she comes in my home any time she feels like it. We are friends, and we still do things together like watch TV and go to movies and bowling and restaurants. She still participates in family events like Thanksgiving and Christmas. She even decorates the house for Christmas and picks out the tree.

I feel like she is holding me back because she has her own separate life with her boyfriend but I do not have separate life without her. If I had a new relationship with a woman, it would be very awkward because my ex-wife would just walk in my home like she still owns the place and then I would have to explain that.

Also, because my ex-wife and I had children very early in our lives, there is lots I've never done, including going to Europe. For the first time in my life I have nothing holding me back and I want to take a long trip to Europe.

I am pretty sure I would get raped on capital gains taxes if I sold my home and did not buy another, but I'm willing to pay the tax so I can get a new beginning in my life, away from my ex-wife.

This would be a big break for me because I would leave behind everyone I know, but I am convinced I can make new friends in New York because I would join writers groups and participate in writers conferences and New York is the center of the world for writing.

I'm not really asking for anyone's permission, I just felt like sharing this.

You will NOT be subject to capital gains taxes on the sale of you private residence. You will pay no taxes.

Thank you, I was reading through this thread hoping someone would bring that issue up. Isn't the capital gains tax break for your first home bought and sold?

No I don’t think so. It applies to every home. Of course, there are limitations for high earners.

Even better.

 

[Blackrook]

Capital gains taxes do not apply to the sale of private residences. Exception being very expensive residences. The tax applies to rental real estate. Ask me how I know?

Is it the same in every state?

States may have taxes, but we are talking about federal.

We're talking about capitol gain taxes from the sale of real estate. You said you don't pay taxes on that and to ask you why. I did, and your only answer is... states may have taxes, but we're talking about federal?

Do you pay taxes on the sale of real estate or not, state or federal, you sounded like you knew.

LOL.

Not in my state. Sorry but I am not a tax accountant. There are 50;states you know?

There is a distinction between real estate you call home and real estate you own and rent to others.

He's made the distinction. He owns his home. Will he pay capitol gains tax on it or not?

No, I looked it up, the first $250,000 of income from the sale of a residence does not have to be reported as taxable income. If I was married it would be the first $500,000.

 

[007]

Is it the same in every state?

States may have taxes, but we are talking about federal.

We're talking about capitol gain taxes from the sale of real estate. You said you don't pay taxes on that and to ask you why. I did, and your only answer is... states may have taxes, but we're talking about federal?

Do you pay taxes on the sale of real estate or not, state or federal, you sounded like you knew.

LOL.

Not in my state. Sorry but I am not a tax accountant. There are 50;states you know?

There is a distinction between real estate you call home and real estate you own and rent to others.

He's made the distinction. He owns his home. Will he pay capitol gains tax on it or not?

Blow me!

Have your butt buddy do that, fag. I called you on your ASK ME shit and now your diaper is full.

Fuck off.

 

[gipper]

States may have taxes, but we are talking about federal.

We're talking about capitol gain taxes from the sale of real estate. You said you don't pay taxes on that and to ask you why. I did, and your only answer is... states may have taxes, but we're talking about federal?

Do you pay taxes on the sale of real estate or not, state or federal, you sounded like you knew.

LOL.

Not in my state. Sorry but I am not a tax accountant. There are 50;states you know?

There is a distinction between real estate you call home and real estate you own and rent to others.

He's made the distinction. He owns his home. Will he pay capitol gains tax on it or not?

Blow me!

Have your butt buddy do that, fag. I called you on your ASK ME shit and now your diaper is full.

Fuck off.

Right back at you dumb fuck.

 

[Blackrook]

And you're going to pay some of the HIGHEST income taxes, just taxes PERIOD, in the NATION, if you move there. You sure that's a good plan?

Not only that, but cost of living is also extremely high. If you know you can make a good income there, then why live like a hobo traveling Europe.

Because I've always wanted to travel Europe like the young people do. I never got to do that because I had kids so early in life.

I have friends in Europe, Germany to be specific, and they're doing fine.

Say you got $300,000 for your home, just guessing, that would sustain you for quite awhile in Europe, and you should have a nest egg left to still put a down payment on another home if you want, but not in LA or NYC.

Ok, but the reason I want to live in NY is that is where all the publishers are. I guess I could go live in Texas and get a big spread.

Hell man... there's this thing called the INTERNET, that we're on right now, and you can contact any publisher in the WORLD. You don't have to live in NYC to contact publishers.

OK, what state would you suggest? I want to go in a general easterly direction.