|
All agents are NOT alike! Find out why we are top real estate experts. Call us today: 863-413-1155.
|
Sign Up For Our eNewsletter, FREE!
There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
Find Out More >
View All Offers >
|
"Thank you for selling the house."
"John, I want to thank you for selling the house." "I really appreciate all you did for me."
JR
Read Quote >
View All Quotes >
|
 Compare
three mortgages at one time. Download TripleCalc now. It's
free. |
The Boyce Team
is one of The Top Selling Real Estate Experts™
Find Out More > |
|
|
|
About the Lakeland, Winter Haven, Davenport, Tampa, and Orlando, Florida Area Request our Free Lakeland, Winter Haven, Davenport, Tampa, and Orlando Relocation Package. It's packed full of useful and important information about the Lakeland, Winter Haven, Davenport, Tampa, and Orlando, Florida area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out... It's our job to know EVERYTHING about Lakeland, Winter Haven, Davenport, Tampa, and Orlando! Ask us any question. Or request a FREE information package. There's no obligation, and we promise to get back to you quickly... 
 |
First Time Buyers >Your Principal Residence
The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.
Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.
Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.
Consult your tax advisor for advice about your particular circumstance.
|
|
|
The Boyce Team
Keller Williams - Boyce Team
218 E Pine Street
Lakeland, FL 33801
Phone: 863-413-1155
Fax: 863-577-1240
Toll Free: 800-462-3958 Ext 0
Email: boyceteam@kw.com
The Boyce Team is one of Central Florida's top real estate teams. Our team specializes in Lakeland, Winter Haven, Davenport, and other cities between Tampa and Orlando. We love referrals. We are comitted to treating referrals with the best service and courtesy possible. Contact us today for more information about The Boyce Team and our proven track record.  
www.LakelandRealEstateHomes.com is brought to you by
The Boyce Team
NUMBER1EXPERT™ in real estate for
Lakeland, Winter Haven and Davenport, Florida Read The Boyce Team's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
