Tag Archives: primary residence

Sale of a Home

The tax overhaul retained the existing benefit for home sellers. Jointly filing married couples can exclude $500,000 from taxes on the sale of a primary home. The exemption for single filers is $250,000 in profit. For inflation, these amounts are not indexed. For example, say Sam and Suzan bought a home for $150,000 many years […]

Sale of a Home

The housing market in the US is finally starting to kick back in high gear, after a few years stalled on the wayside. With this recent shift in the real estate market, a review of the taxes (and appropriate tax breaks) associated with home sales is in order. The application of taxes can be tricky, […]