tax for home sellers: Tax Considerations for Home-buyers, Sellers
- 04/14/12 10:48 PM
Tax season is upon us and for those who purchased or sold a home last year, there are a number of tax deductions for which you may qualify. For starters, the Internal Revenue Service says that if you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income as a single tax filer, or $500,000 on a joint return in most cases. Here are some other factors to keep in mind: 1: Much of the interest paid on a mortgage is tax-deductible. A married couple … (0 comments)
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