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Author Question: In 2011, Regina purchased a home in Las Vegas which cost $280,000. Due to increase in the market ... (Read 29 times)

jwb375

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Question 1

Donald has retired from his job as a corporate manager.  He buys and sells stocks on a daily basis.  He spends 8-9 hours daily studying prospective stock purchases and market news.  What tax issues should Donald consider?

Question 2

In 2011, Regina purchased a home in Las Vegas which cost $280,000.  Due to increase in the market value of the home, she refinanced her mortgage and her debt on the home totaled $300,000 at the end of 2013.  Regina accepted a new job in Dallas in April 2014.  Unable to sell her home, she rented it in November 2014, at which time its fair market value was $240,000.  In June 2016, she sold the home for $230,000.  What tax issues should Regina consider?


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Marked as best answer by jwb375 on Sep 13, 2020

kingdude89

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jwb375

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


marict

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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