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Real Estate Tips
Tax Considerations >Capital Gains Exemptions

Home sellers are always interested in their tax deduction options. If you recently sold a home without meeting the basic ownership and use criteria for waiving capital gains tax, you might still be able to claim reduced exemptions if you meet certain other criteria.

Homeowners who had to sell because of a change in place of employment can qualify for reduced tax. You must prove that the job change occurred while you owned and used the home as your primary residence, and that your new job is located at least 50 miles farther from your residence than your previous place of employment.

A reduced exclusion from capital gains tax may also be granted for health reasons. If your motivation for selling your house was to obtain diagnosis, treatment or cure for a disease or injury to you or a family member, you can apply for an exclusion. Unforeseen circumstances such as death, unemployment, divorce or natural disasters may also reduce your capital gains tax. Consult a tax professional for advice about your unique circumstance.

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Real Estate Trivia
Q 
What Las Vegas hotel is famous for its casinos and is the largest hotel in the US.?

A 
With 5,012 rooms, the MGM Grand Casino is considered the largest hotel in the US.
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The King Team, REALTOR®, real estate agent and broker for Atlanta, Duluth and Alpharetta,  home listings, property and land for sale - NUMBER1EXPERT

The King Team
Atlanta Communities

6290 Abbotts Bridge Road, Bldg 600-Suite 603
Johns Creek, GA.
30097
Phone: 770-446-5111
Fax: 888-316-2797
Email: kingteam@kingteam.com

Mary S. King and Douglas Ferguson have been in the Top 100 of over 15,000 agents in Atlanta, were named Agent of the Year for their office for eleven years, and the Top 25 in Georgia for Atlanta Communities. Now with Atlanta Communities, their business has been based on honesty, integrity and a strong work ethic. They opt for customer service over sheer numbers. Call or email them today!

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