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capital gains: Capital Gains Taxes - 04/12/09 12:23 PM
I have recently spoken with several people who were not at all familiar with the current laws regarding capital gains taxes when you sell real estate.
So, even though the current laws have been in place for a number of years, I think it is worthwhile to review them.
First, let me emphasize that I am not a tax professional. I'm just telling you how I believe the tax system works from the standpoint of a real estate broker. Before you make any decision regarding buying or selling real estate, I recommend you talk with your tax attorney or CPA.
When … (0 comments)
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capital gains: Tax Laws Help Homeowners And Real Estate Investors - 04/14/07 10:38 AM
Recent changes in the IRS codes affect owners of real estate, whether they own just their personal residence or also have investment properties.
For the sale of your home, the law still remains that, if you have lived in the property as your principal residence for two of the past five years, you can exclude $250,000 in gains as a single person or $500,000 as a married couple from taxes.
But what if you have lived in the property for less than two years?
Well, the IRS has come out with guidelines specifying three conditions under which you may prorate the amount of … (0 comments)
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This blog is about the wonderful community of Rancho Bernardo, California and will provide tips for home buyers and sellers.
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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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