Tax Tips when you Sell Your Home

home for sale

Here are a few tax tips you should know about when you sell your home:

  1. You can usually exclude (not report) any profit or gain up to $250,000-$500,000 that you receive from the sale of your home.
  2. You cannot deduct any loss that you receive from the sale of your home.
  3. You can only exclude the gain from the sale of your home every two (2) years.
  4. You must report any gain that you receive from the sale of a property that is not your main home.

If you believe you incorrectly filed a tax return or that you need to file a tax return, feel free to set up a consultation with our office by contacting us at 816-524-4949 or www.hoorfarlaw.com.

This entry was posted in General and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply