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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: TimbaBear who wrote (53505)	2/12/2006 12:01:04 AM
From: GraceZ	Read Replies (1) \| Respond to of 110194

Think the flippers cashed out already? One doesn't pay taxes until the money leaves the game.

To: TimbaBear who wrote (53505)	2/12/2006 11:19:30 AM
From: Jim McMannis	Respond to of 110194

RE:"How much of that increase is tied to property flipping? For example, when one has excess liability in one year, there has to be estimated payments the following year. Wouldn't these estimated payments be considered personal income tax receipts?" If it's your permanant residence 2 of 5 years there is no cap gains tax up to $500k. So a lot of income is slipping in under the radar. But a lot still is by flippers. You don't have to pay estimated...just the penalty. I dunno how it all plays out.