I bought a house 6 months ago in bay area, but life changed unexpectedly and I need to make a decision about living in the house or selling or renting out the house. I need someone to run the numbers, including taxes, and help me in making a decision, since it's a very stressful time gor me and I'm afraid of making a wrong hasty decision. Any recommendations? Accountants or CPAs? Could you recommend good accountant or cpa if you know any in bay area? Thanks. TC 320k.
I am not a tax expert but owned a home before. Capital gain tax rule says if you sell your primary residence within two years from purchase then any gains you have will be taxed. If you sell after 2 years, you keep all gains in your pocket. If property is appreciated, you can hold on to it for a bit.
With the 6% commission would there be any gain?
I'm not worried about the gain, most likely there will be loss. I'm not sure I can sell with the same price that I bought, this is plus selling fees.
Redfin agent said the fees will be %4. Don't know if it's true
What’s your situation? May be that plays a big role in deciding what you want to do with your house and not just numbers.
Sorry to hear that. I hope you find someone to help you run your numbers.