Recent content by northendgolfer

Thanks for the information. On your response you stated on the selling of the unit-"When you sell you owe capital gains on the difference between the sales price and the basis." What do you mean by basis? What is the percentage of tax taken and do you mean the difference in the purchase price...

We are looking at buying a condo in Florida and we are non-residents. We are looking at something under 250k. We would like to rent it out and use it some of the time. What are the tax implications when we sell the property? How much tax are we charged? Can we write off any expenses incurred...

We are looking at buying a condo in Florida and we are non-residents. We are looking at something under 250k. We would like to rent it out and use it some of the time. What are the tax implications when we sell the property? How much tax are we charged? Can we write off any expenses incurred...