home sale loss

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 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|

Capital Gains, Losses, and Sale of Home

Capital Gains, Losses, and Sale of Home Are you trying to get your brain around how to figure out basis of property that you receive as a gift? Here's what you have to consider:      The adjusted cost basis to the donor just before he or she made the gift

2021-04-12T14:55:30-06:00March 12th, 2019|
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