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Form 6252 Renton Washington: What You Should Know
File a Form 6252 (if applicable) to report capital appreciation. You have to add interest to the income for the year. See IRS instructions HERE. If your home is sold, and you paid off the maintenance, the purchase price is not considered a capital gain. Only when you received the principal of the mortgage payment that you paid for the home, you can report a capital gain. The tax equivalent to the amount of the mortgage payment would be included in the income. Then, subtract interest for that year from the total income to find the tax equivalent of the payment amount. The interest will then be a basis for computing gain for the year. It will appear on line 21 of Form 6252. The tax equivalent of each payment is shown on line 5. For 2023 the tax equivalent of each payment is 1,000.00, thus, the capital gain is 1,750.00 (Line 6). For 2023 the capital gains will amount to 2,500.00 (Line 5) and is the total gain of 3,000.00 (Line 6). The total gain will be added to your income (line 13) Form 6262. See instructions HERE. This is the (6/6) RAD HOLDINGS, LLC 6252 167TH AVE SE BELLEVUE, WA 98006 I NE 1/4, SE 1/4, SEC.30, TWP.23N., AGE.SE, W.M. CITY OF RENTON, KING COUNTY, WASHINGTON (6/6) RAD HOLDINGS, LLC 6252 167TH AVE SE BELLEVUE, WA 98006 I NE 1/4, SE 1/4, SEC.30, TWP.23N., AGE.SE, W.M. CITY OF RENTON, KING COUNTY, WASHINGTON (6/6) RAD HOLDINGS, LLC 6252 167TH AVE SE BELLEVUE, WA 98006 I NE 1/4, SE 1/4, SEC.30, TWP.23N., AGE.SE, W.M.
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