Tax Benefits


Sellers Guide	Homeowners are winners under the Taxpayer Relief Act of 1997. Under the new law, up to $250,000 ($500,000) for a married couple filing a joint return) of gain realized on the sale or exchange of a principal residence is not taxable.- not just deferred. In addition, $250,000/$500.000 is taxed at the new lower rate. Homeowners qualify for this tax exclusion if two requirement are made: The home must be used as a principal residence for two of the preceding five years. This law does not apply to vacation or second-home properties. There are some exceptons for those who cannot satisfy the two-year use requirements. No more than one sale exchange can take place every two years. If you are selling your home, you should contact a tax advisor for details on how this new law applies to your sale.
Getting a Realtor
Marketing & Success in Selling
Tax Benefits for Home Seller