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Blog entries tagged with "capital gains tax":
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Capital Gains Tax on Real Estate Sales
Capital Gains Tax changing?
Summary: A home seller asks about paying capital gains tax on a home sale. The home seller thinks she and her husband may be exempt from paying capital gains tax. Ilyce Glink advises that the home seller will have to pay capital gains tax, although less if she's lived there two … (1 comments)
Sale vs. Exchange
Apparently, a provision in the BIG bailout of mortgage giants Freddie Mac and Fannie Mae increases the future capital gains taxes on second-home owners. This may make second homes less attractive as a real estate investment. The provision most likely will precipitate a decline in property values in America's resort and retirement towns.
If you have been wondering about paying Capital Gains Taxes on the sale of your income property, consider this:
Did you know you can potentially generate more listings and sales by contacting your past clients with a reminder that IRS code 121 allows a tax exemption up to $250,000 per seller ($500,000 for married couple)?
Although the federal government made a small concession for primary homeowners in crisis this year through tax exemptions on foreclosure losses, the average Joe who dipped into real estate investing and is now going for bankruptcy or just foreclosure will be in a world of hurt.
Spring Skiing is Great!
I recently got first-hand experience with the dreadful capital gains tax blues. I owned a second business for ten years and recently sold it in order to spend more time in real estate. I had heard of capital gains taxes, but I had never understood how painful it could be. When … (4 comments)
With tax season back in town, I get a lot of questions about real estate taxes and capital gains. Because it is complicated, I created this easy bullet point information system.
If you've completed a 1031 exchange, you can use IRSForm8824.com to complete your Form 8824! You enter information about your properties from your settlement statements and tax records and it will automatically produce a Form 8824 that is downloaded to your computer. Features: *Zero Balance check to help you make … (0 comments)
I found this blog post so valuable and informative that I wanted to share it again for everyone. Thank you, Vickie!!!!
Capital gains tax is something no one wants to pay. The good news is that there are some exceptions to the rule. Before you fork over the money, check with your tax advisor or the IRS to see if you qualify to keep your money. … (1 comments)
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According to the article Home Improvements Reduce Capital Gains Tax on Bankrate.com, it is important for homeowner's to remeber that every dollar spent towards home improvements, remodeling and renovations can mean a dollar off their federal tax bills, when and if the time comes to sell. Money spent on capital gains … (0 comments)
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A great deal of confusion is related to the capital gains taxes for selling a primary residence. Years ago you could buy a primary home and sell it at any time and 'roll over' the money capital gain tax free into a new, more expensive home. The bad news is … (1 comments)