sale of principal residence: How the 2009 Changes will Affect Capital Gain Exemptions on Sales of Primary Homes
- 04/09/09 11:28 AM
As part of the Housing and Economic Recovery Act of 2008 (HR3221), Congress enacted changes via the Housing Act, Section 3092, that will--starting from January 1, 2009, change how home sellers determine the gains to be excluded from capital gain taxes. Below is an excerpt from monthly probate and realty newsletter of the American Bar Association at www.abanet. New Restriction on Exclusions of Gain from Home Sales(Housing Act § 3092) One of the most disadvantageous provisions in the Housing Act is the new restriction on the exclusion of gain from home sales. Under current law, a taxpayer can exclude up to $250,000 in gain ($500,000 … (0 comments)
As part of the Housing and Economic Recovery Act of 2008 (HR3221), Congress enacted changes via the Housing Act, Section 3092, that will--starting from January 1, 2009, change how home sellers determine the gains to be excluded from capital gain taxes. Below is an excerpt from monthly probate and realty newsletter of the American Bar Association at www.abanet.
;)
;)
