repayment of first time home tax credit: Have the Rules Changed? IRS Seller Tax Tips - 08/16/11 08:58 AM
Do you ever get the question from home sellers, “Is this deductible?” While as a Realtor it’s wise to never offer tax advice, you can pass along these ten tips from the IRS for home sellers. You can also refer your clients directly to the IRS website http://www.irs.gov/newsroom/article/0,,id=243682,00.html. 1. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale. 2. If you have a gain from the sale of your main home, you … (1 comments)

 

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