Hello all,
I am currently trying to sell a house which I used to live in and now rent out.
House purchased in November 2003. To be sold in June 2014.
I lived there from November 2003 until November 2008.
It has been rented out since.
House bought for €206,000. Mortgage: €200,000.
Mortgage principal remaining: €158,000.
House expected to sell for €170,000.
Do I owe any capital gains tax, as the house will sell for more than is left on the mortgage? Or am I not liable as its worth less now than when I bought it?
Thanks
I am currently trying to sell a house which I used to live in and now rent out.
House purchased in November 2003. To be sold in June 2014.
I lived there from November 2003 until November 2008.
It has been rented out since.
House bought for €206,000. Mortgage: €200,000.
Mortgage principal remaining: €158,000.
House expected to sell for €170,000.
Do I owe any capital gains tax, as the house will sell for more than is left on the mortgage? Or am I not liable as its worth less now than when I bought it?
Thanks