May 17th, 2005

MacCauley

My house

I offered to sell my house to a neighbor for $70K. I'd be taking a loss on it. Big time. But it's more than I owe on the mortgage and I'd have an extra $700 per month to spend. Plus, I can make up some of the loss on my taxes. Basically, use the loss over the next few years to offset any capital gains income I have. I couldn't take it all in one year, since I don't make that much in capital gains. And you can't use capital losses to offset wage income. Though I don't know how many years I can carry forward the loss. Zzzzzz… sadly, I actually find tax law somewhat interesting.

Anyway, he's gonna look into what kind of financing he can arrange.

Also, I'm using my MacCauley icon for this. It's me, not the Culkin kid. But I use it for exceedingly personal stuff. The house is the big pink elephant I can't really face. Thus the personal. That really leaves only one big bugaboo left at the moment. And it's more recent. (If the house sale thing works out that is.)