|
Being Cedar Rapid's Listing and Selling Expert since 1993 by exceptional care and service. Kindly call me at: 319-350-SOLD.
|
Get Free Presentation On Our Home Marketing.
Before signing a contract with any real estate agent, make sure you know EXACTLY how your home will be marketed.
Find Out More >
View All Offers >
|
 Compare
three mortgages at one time. Download TripleCalc now. It's
free. |
Heather Morris Realty Consulting
are some of The Top Selling Real Estate Experts™
Find Out More > |
|
|
|
 |
 |
Welcome to our Cedar Rapids, Robins, Marion real estate information site. Your decision to buy or sell real estate can be exciting and stressful at the same time. We understand how you feel and would enjoy helping you make one of the most important financial and emotional decisions of your life.
We start by listening to you whether you are a first time home buyer, building new construction, relocating, or putting your house on the market for personal reasons. We would enjoy the opportunity to help you prepare for your move, help you stage your house for top dollar, and advise you of what you can expect along the way. |
 |
|
Our team of specialists provides exemplary service, cutting edge technology, and communication in every aspect of your real estate transaction.
Call or email for a custom home search, additional relocation information for the Cedar Rapids, Marion, Robins Real estate market, a pre-listing kit, or a buyer counseling packet with a market conditions report.
Thank you for joining our real estate consulting web site.
- Heather |
 |
 |
Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
|
|
| Q |
Exactly how many islands are included in the group called the 1000 Islands?
|
| A |
There are actually 1,864 islands in the 80-mile stretch in the St. Lawrence River, between Ontario, Canada and New York State. |
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERTS™ 
