 |
 |
 |
Welcome!
Here you can find great information on Warsaw, Winona Lake, Indiana Real Estate Plus Winona, Chapman, Tippecanoe & other Area Lakes!
|
|
Looking for homes? From luxury lakefront properties to conventional homes or vacation lake homes, you can search everything the web has to offer, right here! Don't miss our Feature Homes. Need local real estate information? We've summarized much of what is important about the Warsaw, Winona Lake and the many area Lakes lakefront properties and channel front lake homes in this site. Need expert advice? No web site, large or small, can take the place of a top Realtor. Not even ours! This site is filled with ways that you can contact us for 1-on-1 expert help and advice. That's our job. Contact us with confidence! We guarantee your privacy will be respected. And we offer the services on this site for free and without obligation. Why? We want to be YOUR Realtors. As your trusted, professional real estate partners, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As top Warsaw and Winona Lake Realtors, we have the experience and track record you are looking for. It would be our pleasure to help. - Dick & Sue Cole  |
|
 |
|
Tax Considerations >Tax Implications of Selling Your House Most of my clients profit from selling their homes, and they often have questions about capital gains tax.
When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010.
Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption.
Consult your tax accountant for more detailed information regarding your particular circumstance.
|
|
| Q |
What acclaimed house built of stone, concrete, and glass is built over a waterfall?
|
| A |
Fallingwater in Mill Run, PA, built by architect Frank Lloyd Wright, is one of the most-visited homes in the U.S.
|
 See More Real Estate Trivia > |
|
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
|
- NUMBER1EXPERTS™ 
