Sold former primary home converted to rental for significant loss -- had to write a check for $98,000 to pay off mortgage. However, tax benefit for realizing suspended losses plus loss on sale will equal approximately $105,000. Booking tax benefit at conservative $95,000. Will shake out when I file 2016 taxes in April 2017.
But, another goal reached: completely mortgage free!!
Opened a HELOC with local credit union for future cash management for college costs, home improvements, etc. |