Monthly Archives: April 2024

Price Improvement! Check out this Don Anthony Realty 4 bed, 2.5 bath house for sale in Huntersville, NC in Monteith Park!

Price Improvement! Check out this Don Anthony Realty 4 bed, 2.5 bath house for sale in Huntersville, NC in Monteith Park!

Click the link below for pictures and property details…

15432-Barnsbury-Dr.htour4u.com

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Want to sell a house in Mount Holly, NC with low commission like this Don Anthony Realty client? It’s now Under Contract!

Want to sell a house in Mount Holly, NC with low commission like this Don Anthony Realty client? It’s now Under Contract!

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Keep more profits from home sales

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In recent years, home values have soared, presenting an opportunity for homeowners with substantial equity to consider a unique tax benefit.

Section 121 in the IRS code allows for homeowners who meet certain requirements to exclude up to $500,000 of capital gain on the sale of their principal residence. Single or married taxpayers filing separately can exclude up to $250,000 of capital gain. Taxpayers must meet the following requirements:

  • They must have owned and used the home as a principal residence during at least 2 out of the last 5 years.
  • They should not have excluded gain from another home during the two years before the current sale.
  • The property should not have been acquired through a 1031 exchange during the past five years.

Capital gain is determined as selling price, less sales costs, less basis in the property which is the purchase price paid for the home plus capital improvements made during the tenure. Capital gains more than the exclusion amounts are taxed at the capital gains rate which varies between 0% and 20% depending on the taxpayer’s adjusted gross income in the year of the sale.

Some exceptions for divorce, death of a spouse, or military service may apply. For more information, see IRS Publication 523 and download our Homeowners Tax Guide. It is always advisable to seek the counsel of your tax professional for your particular situation.

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Just Listed! Check out this Don Anthony Realty 5 bed, 3.5 bath house for sale in Indian Land, SC in Ridgecrest!

Just Listed! Check out this Don Anthony Realty 5 bed, 3.5 bath house for sale in Indian Land, SC in Ridgecrest!

Click the link below for pictures and property details…

4411-Tournette-Dr.htour4u.com

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Over $10,500 MORE in their pocket!!! These sellers used Don Anthony Realty’s Discount Realtor program to sell a house in Clayton, NC and it’s now SOLD! Congratulations to our clients!

Over $10,500 MORE in their pocket!!! These sellers used Don Anthony Realty’s Discount Realtor program to sell a house in Clayton, NC and it’s now SOLD! Congratulations to our clients!

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Just Listed! Check out this Don Anthony Realty 5 bed, 3.5 bath house for sale in Hickory, NC in Morning Side!

Just Listed! Check out this Don Anthony Realty 5 bed, 3.5 bath house for sale in Hickory, NC in Morning Side!

Click the link below for pictures and property details…

8-7th-Ave-NE-0.htour4u.com

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Just Listed! Check out this Don Anthony Realty 3 bed, 2 bath house for sale in Gastonia, NC in Nolen Farm!

Just Listed! Check out this Don Anthony Realty 3 bed, 2 bath house for sale in Gastonia, NC in Nolen Farm!

Click the link below for pictures and property details…

9275-Dunwich-Dr.htour4u.com

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Just Listed! Check out this Don Anthony Realty 3 bed, 2 bath house for sale in Mooresville, NC!

Just Listed! Check out this Don Anthony Realty 3 bed, 2 bath house for sale in Mooresville, NC!

Click the link below for pictures and property details…

118-Rockwell-Loop.htour4u.com

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