home sale exclusion rule

Tax Rules When Selling Your Home

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over July of 2022 after a couple years of much higher increases. The median home price

2023-09-26T10:23:54-06:00September 26th, 2023|

The Home Sale Gain Exclusion

If you’re thinking about selling your home, it’s important to determine whether you qualify for the home sale gain exclusion. The exclusion is one of the most generous tax breaks in the tax code, so be sure to review its requirements before you sell. Exclusion Requirements Ordinarily, when you sell

2022-12-13T13:28:34-07:00December 13th, 2022|

Taxes and Selling Your Home

Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was $411,200 in the Northeast, $275,300 in the Midwest, $305,200 in

2021-10-12T09:15:29-06:00October 12th, 2021|

Taxes When Selling Your Home

Traditionally, spring and summer are popular times for selling a home. The COVID-19 crisis has resulted in a temporary slowdown in sales in some markets. The National Association of Realtors (NAR) reports that existing home sales in April decreased year-over-year, 17.2% from a year ago. One bit of good news

2021-04-12T14:53:53-06:00July 7th, 2020|

Taxes on Selling Your Home

Spring and summer are busy seasons for selling a home. Interest rates are currently good and buyers are out looking for a new place. Freddie Mac reports that the average 30-year fixed mortgage rate was 4.14% during the week of May 2, 2019, while the 15-year mortgage rate was 3.6%.

2021-04-12T14:55:12-06:00June 4th, 2019|
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