Capitol gains counting twords purchasing power
2 Replies
Chad Griffin
from San Diego, CA
posted about 1 month ago
Anyone know if capitol gains realized on my taxes from stocks will count towards my purchasing power on a fixed loan?
My DTI is ugly due to two cash flow neutral rentals and my tax free military income...
Douglas Spence
Investor from San Diego, CA
replied about 1 month ago
@Chad Griffin I don't know the answer to your question, unfortunately. I would say "consult with a tax professional" and if you don't have a CPA (which it sounds like you don't, otherwise you would ask him/her) then its time to hire one. Especially since you're up to two rental properties. I hired a CPA to handle my taxes last year and I'm very glad I did! He/she will more than make up for what they charge. Best of luck and keep us updated.
Joshua McMillion
Rental Property Investor from Madison, AL
replied about 1 month ago
I would recommend exactly what Douglas said. I Found a CPA that is also a veteran and specializes in RE. It has been eye-opening to have a tax professional on my team. If you would like, I can provide his point of contact.
Sincerely,
Josh