What is the name of your state? Ohio
A month ago we purchased and moved into a home here in Ohio. Just last night we concluded negotiations on the sale of our previous home in another state (we lived in the house for 25 years and it's been vacant for the past month), and the buyers want to close on or before 1/2/08.
The opportunity exists to influence whether the closing will be in 2007 or 2008. Generally speaking, are there any tax advantages to close in one year instead of the other?
Thanks.
- BandM
A month ago we purchased and moved into a home here in Ohio. Just last night we concluded negotiations on the sale of our previous home in another state (we lived in the house for 25 years and it's been vacant for the past month), and the buyers want to close on or before 1/2/08.
The opportunity exists to influence whether the closing will be in 2007 or 2008. Generally speaking, are there any tax advantages to close in one year instead of the other?
Thanks.
- BandM
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