Perched perfectly on the side of the Blue Ridge, and one hour north of Winston-Salem, awaits your perfect log cabin escape… Blackbeary Lane. Named for the local black bears and the abundance of blackberrys on the property, this spacious and luxurious new retreat boasts four comfortable bedrooms and three full baths with 180 degree breath-taking views of the Blue Ridge Mountains, Piedmont Triad, and Pilot Mountain. On a clear day, the skyline of Winston-Salem gleams in the sunshine. Pilot Mountain steals the show planted directly in front of the deck, dead center in the horizon. Completed in December 2009, our cozy cabin sleeps 12 comfortably. The covered private deck adds outdoor living space to enjoy the splendor of Fall, or the spectacular night time skyline. For the person with allergies, all our floors are wormy Red Oak hardwoods, laminate “barnstyle” hardwoods or tile.. you’ll find no carpet… but plenty of rugs in our cedar log cabin. Every comfort has been considered in furnishings, décor and functional design, with a rustic lodge theme. Our escape is perfect for families, groups, and retreats. Go to www.vrbo.com to rent the cabin. Video Rating: 0 / 5
Question by Nancy E: Capital Gains Tax on Rental Property and Primary Residence Sale?
In 1987 my ex husband and I purchased a home in GA. One year later he joined the military and we moved and the home has been a rental property. I foolishly paid extra on the mortgage, not knowing at the time that this would increase my capital gains tax. Now, divorced I purchased my ex’s interest in the Ga home and I purchased a home in Maryland in 2004 and may be relocating to Virginia in Dec 2008. Are there any loopholes that would assist in lowering the capital gains tax on the GA home? I thought of refinancing the loan to a higher amount but I’m sure that would not work as easily as it sounds. Also, would selling both homes and relocating to VA help in any way? I read something that said if a second home was sold in combination with a primary residence then used to purchase another home, there COULD be a loophole for some… Thanks!
Answer by Onestep downfrom God Post this in the USA and you might get an answer.
Question by L B: What is the best tax prep software for rental property owners?
Every year we spend over $ 350 on a tax preparer and end up with errors which the IRS seems to correct before sending us a check for more value than what we are told. We want to try and prepare our own taxes this time but not sure what software we should get. We have a rental property in North Carolina for which we pay a mortgage and are living in a rental apartment in Virginia. We have 2 dependents and one of us works part time and the other full time. What software do you recommend in this situation? We have vista on our computer. Thanks much!
Answer by Oldmansea Turbo Tax is what I use, I always pay the 80 or 90 dollars for the deluxe edition which does rentals and other business stuff.
Know better? Leave your own answer in the comments!