Increase of capital gains over lowering the purchase price
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elijah
Apprentice
Joined: 11 Apr 2004
Posts: 15
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 Posted: 07/12/08 - 09:58 Post subject: |
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| I am going to sell my second property, which I have been letting out, in the near future. I have now decided on the asking price. This is certainly less now than it would have been several months back, of course due to fluctuations within the housing market. I have now heard from someone that this could increase my capital gains. How is that possible? |
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tirrell
Apprentice
Joined: 21 Jan 2008
Posts: 4
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| Posted: 08/10/08 - 23:10 Post subject: |
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| Of course getting less money for something now as compared to what you would have received at some point in the past never increases your gains compared to the gains that you would have made at that given point in the past! But if the value is still above the brice you bought the property for, there will be capital gains. (Though not increased ones...) |
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