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Tax, SDIRAs & Cost Segregation
HomeForumsTax, SDIRAs & Cost SegregationHelp! Atlanta Taxes!
Lukas Koube's profile image
Lukas Koube's profile image
Lukas Koube
  • from Inglewood, California
  • Member since Oct 16, 2015
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Lukas Koube's profile image
Lukas Koube's profile image
Lukas Koube
  • from Inglewood, California
  • Member since Oct 16, 2015
Connect
Lukas Koube
  • Inglewood, CA
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21
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Tax, SDIRAs & Cost Segregation

Help! Atlanta Taxes!

Lukas Koube
  • Inglewood, CA
Posted Oct 8 2017, 23:25

Sold a home in LA for a clean 120,000$ profit after closing costs (lived there for 2 years!).

But, had to buy a home in Atlanta Ga in a hurry for personal reasons. Because of occupancy rules, I had to get the home as an investment property on my loan even though I plan to live there.

Quick question:

what are the different tax implications for investment vs owner occupied in Ga? Can I claim Owner Occupied even though its a loan for an investment? Our ESCROW is asking for way more money for taxes than it seems I should pay vs online tax calculators. Any info would be awesome, I looked it up extensively and cant figure it out!

Thanks BP! 

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