When do I have to pay capital gains tax on real estate? What's included when calculating the cost basis for his home and what costs of sale count. Q: I have a couple of capital gains tax questions regarding upgrades to my home. First, I had $400 worth of bushes installed last spring in my [...]
Transferring a car title varies from state to state in the United States, and each state has its own process and requirements. Below, I'll provide a general overview of how to transfer a car title, and I'll also list the DMV website for each state where you can find more detailed information and specific instructions. [...]
Thinking of buying a vacation home with IRA Funds? Watch out for higher fees when purchasing a vacation home in a self-directed IRA I listen to you every Sunday morning on WGN and I have a question. I'm thinking of buying a vacation home with IRA funds. Can I do that? A: The short answer [...]
FSBO Selling A Home Fast Q: I'm a FSBO selling a home fast in Colorado. Do you have any tips or suggestions on how to do it quickly and efficiently? I've already tried listing it on some popular real estate websites, but I haven't had much luck. I'm thinking about working with a local real [...]
Family Money Home Renovation: Brother Fails to Pull His Fair Share in Home Renovation Q: I entered into a contract with my brother to renovate a house. The agreement was that we would be reimbursed for what we paid to renovate the home and then split the profit equally. The house was a disaster. I [...]
Home Smoking Policies: What do your homeowner association rules say? Q: Our condo already prohibits any smoking in common areas or on balconies. Now the homeowner association (HOA) is considering demanding that smokers seal/close their air return vents -- where smoke can easily pass from one unit to another. Also it may demand that smokers [...]
Capital gains tax on inherited property? Q: My husband died and I am the beneficiary of his trust, which was transferred to me. Basically everything he owned is in the trust, including our home. I transferred the title to the home into my name. I took no money out of the trust and I didn’t [...]
Homeowners demand more EV charging stations in their condos, co-ops, and townhomes Have you noticed the number of EVs exploding in your neighborhood? What about EV charging stations? Do you hear more people talking about getting an EV and installing a charging station in their home, building, or townhome parking garage? Over the past few [...]
Home Inspections: home inspectors make mistakes A reader wants to know if home inspectors make mistakes when doing home inspections. Q: My home inspector did an inspection of my home before I purchased it. The home inspector made mistakes: The inspector missed that there was a hidden water line problem. He also missed a false [...]
What happens if you inherited property with a long-term lease? Q: I'm writing about your recent column that dealt with a family inquiring about an inherited property with a long-term lease. I know of a similar situation where a family leased one of the best locations in town to a large burger franchise restaurant decades [...]
