Capital Gains may not be as clear-cut as you think. If you're planning on selling your home, or are just interested in gaining knowledge on the subject, check out these 10 facts about Capital Gains.
1. The exclusion only applies to your primary residence
Your primary residence is the one you live in most of the time. If you own and live in more than one property, you can nominate any one of them as your primary residence. However, you can’t be disingenuous to get the tax concession. The IRS applies certain tests to make sure the home you nominate is your primary residence. Where you work, where other family members spend a major part of their time and where you vote all play a part in determining your primary residence.
2. To claim the exemption, you must live in the home for at least 2 years before selling
The 24 months do not have to run concurrently. So, you could live in the property for 18 months, move...
Another beautiful property SOLD by The Morcom Group
The Morcom Group uses both modern marketing techniques and tried-and-true methods to ensure you get TOP DOLLAR when you sell your home. Las Vegas is a SELLER'S MARKET! Now is the time to SELL YOUR HOME!
Thinking of selling? Contact The Morcom Group TODAY!
THE LAS VEGAS REAL ESTATE MARKET IS HOT, HOT, HOT!!
Wait a minute - that's not breaking news. But what IS breaking news is that some zip codes showed up to a 21% INCREASE IN VALUE in 2017?
So where does your zip code rank on this list? Does this affect where you look to purchase your next home?
The Morcom Group can help you not only ask the right questions, but get knowledgeable, relevant answers.
CONTACT US TODAY!!
For a link to the full KTNV article, CLICK HERE
Las Vegas Real Estate is HOT and SELLERS are making out with
THE MORCOM GROUP MARCH UPDATE:
What a fantastic March! We put SEVEN homes in contract, and THREE of them have already closed. We were in contract in under four days with multiple offers.
WHAT'S YOUR HOME WORTH?
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Eli Segall of the Las Vegas Review Journal reported last month that Las Vegas real estate market started 2018 looking a lot like the 2017 market: sales and prices climbed from a year earlier as availability plunged.
Buyers picked up 2,261 single-family...
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter...