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Do you ever get the question from home sellers, “Is this deductible?” While as a Realtor it’s wise to never offer tax advice, you can pass along these ten tips from the IRS for home sellers. You can also refer your clients directly to the IRS website http://www.irs.gov/newsroom/article/0,,id=243682,00.html. 1. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale. 2. If you have a gain from the sale of your main home, you … (1 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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