Part of the joy of looking for a home is finding the nicest one you can afford. However, some home buyers overlook the effect mortgage points can have on home affordability. Generally, mortgage points must be paid upfront, in addition to a down payment. If you've decided to buy a home...
The article presents answers to several questions submitted by readers about personal finance including those related to the tax consequences of selling a home, the 2014 deadlines for contributing to employer-sponsored retirement plans and individual retirement accounts, and the gap known as the doughnut...
especially after the Tax Cuts and Jobs Act was signed in December 2017. Here are some of the key tax benefits of owning a home, and how homeowners can make the most of the new rules.
Do you know how real estate capital gains taxes work when selling a house?Selling your homecan net you a significant return. But what does the tax man have to say about it? With property values across the country skyrocketing, now more than ever, it is vital to understand capital gains ...
Tax-Loss Selling and the Turn-of-The-Year Effectdoi:10.2139/ssrn.392034This paper examines the turn-of-the-year effect in Norway during 1984 and 1999, focusing on testing the tax-loss selling hypothesis. Using an interesting dataseSocial Science Electronic Publishing...
Capital Gains from Selling Your Home We’ve now documented the various ways in which homeownership can lead to several bonuses at tax time, but what most people don’t realize is thatselling your propertygarners a decent tax break too.Because of the capital gains exclusion rule (or the home...
Capital gains taxes can greatly affect your bottom line. Fortunately, there are ways to reduce them on your home sale, or avoid them altogether. It depends on the property type and your filing status. The IRS offers a few scenarios to avoid capital gains taxes when selling your house. ...
This sale could correspond to an acquisition, an IPO (where investors are assumed to sell their shares soon afterwards), or a cessation of operations (equivalent to selling at a price of zero). We assume P1 is the sum of two components. The first is the accumulated income (Yi) of the ...
Selling a home is a major life milestone that may come with a large tax liability. Qualified single taxpayers can generally exclude $250,000 of profit when considering capital gains while couples who file joint returns can exclude $500,000 of profit. ...
You're Buying (or Selling) a Home Homeowners were able to deduct the interest paid on mortgages of up to $1,000,000, or $500,000 for married taxpayers filing separately, before the TCJA was passed. But anyone who takes out a mortgage between Dec. 15, 2017 and Dec. 31, 2025 is onl...