To get my complete, FREE article
with all the details…
NOTE:
This issue of the Tax Reduction Letter is a
“refresher” on an important topic. It’s the last of
a three-part series and I suggest you review parts 1 and 2
to get complete information.
Are you about to sell your home, or thinking about putting it on the market?
Then I’ve got good news for you…
You may be eligible to take advantage of one of the most terrific tax breaks allowed by the IRS.
I’m talking about the “Principal Residence Gain-Exclusion” break.
Here’s the punch line…
If you’re single, you pay no capital gains tax on the first $250,000 of profit you make on the sale of your home.
This assumes the value of you home has risen, (and it probably has.)
Married couples enjoy a $500,000 exemption!
Getting divorced or married?
That’s a different story.
Here’s where the IRS rules get tricky and you’ll need a guide to help you understand the law. (That’s me!)
In my new article I’ll walk you through several vitally important scenarios:
- If you sell your home during your marriage
- If you sell your home within a year of your divorce (or later)
- When your non-resident-ex continues to own the home for years after divorce
I’ll set some examples. Ten in fact.
To make things crystal clear, I’ve provided ten examples of scenarios that frequently occur. These examples will make all the complex details of the law easily understandable. To find out how…