Selling a condo...anyway around this unfair situation?

raghu813 · Post by **raghu813** » Thu Oct 14, 2010 1:09 am

When we bought it a couple of years ago the exchange rate was about 14 pesos to the buck. Much less now. So even though we are selling at a loss the agent says we will need to pay capital gains.

Seems unfair to me. Anybody know a way around it?

Mike

dlanderso · Post by **dlanderso** » Fri Oct 15, 2010 5:09 pm

hola
was this your primary residence and do you have an FM3 or FM2
if your primary residence and you live here fulltime,the law changed sept 15 re capital gains. unfortunately with the peso devaluing we are all stuck with the calculation on the sale. the govt says the sale is calculated in pesos so even if you sold for exactly what you paid for it and with no profit,you would still be paying tax on the difference of 14 pesos to 12 pesos

dlanderso · Post by **dlanderso** » Fri Oct 15, 2010 5:10 pm

hola
was this your primary residence and do you have an FM3 or FM2
if your primary residence and you live here fulltime,the law changed sept 15 re capital gains. unfortunately with the peso devaluing we are all stuck with the calculation on the sale. the govt says the sale is calculated in pesos so even if you sold for exactly what you paid for it and with no profit,you would still be paying tax on the difference of 14 pesos to 12 pesos

raghu813 · Post by **raghu813** » Sun Oct 17, 2010 10:32 pm

At least I realize I was correctly informed on it.
Thanks again.

Mike

Selling a condo...anyway around this unfair situation?

Thanks for your kind help on this