When.com Web Search

Search results

1. Results From The WOW.Com Content Network

2. Will I Owe Taxes if I Sell My Home? - AOL

   www.aol.com/owe-taxes-sell-home-115700974.html

   But you get a massive tax break when you profit from your home sale. So, if you’re like Al and thinking about selling your home, it’s critical to understand how it works and who qualifies for ...

3. Selling a rental property? Here are the tax consequences - AOL

   www.aol.com/news/selling-rental-property-tax...

   You’re not eligible for the $250,000-per-person home sale profit exclusion, and in addition to paying capital gains tax you also face a depreciation recapture tax of 25%.

4. Sold Your Home for Profit? You Might Have to Pay Capital ...

   www.aol.com/finance/sold-home-profit-might-pay...

   Capital gains tax is not only applicable to stock investors -- if you're one of the many who sold their home for a major profit this year, you might owe the IRS. See: 32 Insider Tips for Buying and...

5. Internal Revenue Code section 1031 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   For real property exchanges under Section 1031, any property that is considered "real property" under the law of the state where the property is located will be considered "like-kind" so long as both the old and the new property are held by the owner for investment, or for active use in a trade or business, or for the production of income.

6. Nonrecognition provisions - Wikipedia

   en.wikipedia.org/wiki/Nonrecognition_provisions

   Nonrecognition provision generally have two common themes. First, nonrecognition is conferred because it is said that the sale or exchange at issue usually involves a mere change in the form of an investment and not a change in the substance of that investment. Second, the realized gain or loss usually never disappears: the unrecognized gain or ...

7. Home mortgage interest deduction - Wikipedia

   en.wikipedia.org/wiki/Home_mortgage_interest...

   In the United States, there are additional tax incentives for home ownership. For example, taxpayers are allowed an exclusion of up to $250,000 ($500,000 for a married couple filing jointly) of capital gains on the sale of real property if the owner used it as primary residence for two of the five years before the date of sale.

8. I'm Selling My House to Net $640k to Downsize for ... - AOL

   www.aol.com/im-selling-house-netting-640k...

   While profits from a home sale are considered capital gains, the IRS typically allows you to exclude part of the profit – if not all of it – from your taxes. ... 15% and 20% based on their ...

9. Taxpayer Relief Act of 1997 - Wikipedia

   en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

   The act permanently exempted from taxation the capital gains on the sale of a personal residence of up to $500,000 for married couples filing jointly and $250,000 for singles. This exemption applies to residences the taxpayer(s) lived in for at least two years over the last five. Taxpayers can only claim the exemption once every two years. [4]