A new job, adesire to relocate, or the opportunity to seize your dream home can create an agonizing decision: Should I sell my house or rent it out? If you decide to rent, you could realize anew source of incomefrom your tenant. But selling allows you to use yourequityto help purchase...
Due to owning the house for less than two years, Tyler and Maryanne will have to pay short-term capital gains taxes on that gain of $325,000. Because their tax basis wasn’t stepped up to the home’s market value — which could have been upwards of $400,000 when they received it ...