Ten Key Facts About Home Sales

tax breaksIn most cases, gains from sales are taxable. But did you know that if you sell your home, you may not have to pay taxes?

Here are ten facts to keep in mind if you sell your home this year.

1.  Exclusion of Gain.  You may be able to exclude part or all of the gain from the sale of your home. This rule may apply if you meet the eligibility test. Parts of the test involve your ownership and use of the home. You must have owned and used it as your main home for at least two out of the five years before the date of sale.

To read the other 9 key facts about selling your home, read our free report here:

Ten Key Facts About Home Sales

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