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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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What oceanfront area is currently the most popular choice among people searching for second homes and vacation homes?
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According to statistic published early in 2005, the Florida coast is the most sought-after vacation and retirement destination in the United States.
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The Tello Team Keller Williams Realty, Partners SW 2000 NW 150 Avenue Suite 2000 Pembroke Pines, Florida 33028 954-237-0600 Fax: 888-599-5719 Email: sold@telloteam.com
Associated with Keller Williams Realty Partners SW in South Broward County, Florida, Chris and Natascha operate their mega agent team here, known as The Tello Team. The Tellos attribute much of their success to their prior careers in the international hospitality industry, giving them the foundation to truly understand the meaning of "beyond your expectation customer service." This is a motto they instill into their business and the members of their team. Chris and Natascha are also fluent in both Spanish and German. 
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