eHow launches Android app: Get the best of eHow on the go.

Tips for Selling your Home Income Tax Deductions

Video Preview
From Quick Guide: Tax Deductions

Summary: Learn what benefits homeowners can exercise in income tax deduction in this free educational video on about understanding your income tax deductions.

Views:
1,361
Presenter
By Tom Choisnet
eHow Presenter

Tom Choisnet was born, raised, and educated in San Bernardino, California where he has his practice today. He has been in self-employed tax practice for over 40 years and he has been...read more

Click Here

Post a Comment

Post a Comment

Video Transcript

"Hi we're going to talk a little bit know about selling your home since 1997 a married couple could exclude up to half a million dollars of profit in the sell of there personal residence. The basic rule is to have to being used as your personal residence for 2 of the last 5 years that takes into consideration a situation may have for a brief period of time. In those cases any depreciation's claim while it was a rental must been shown as income but otherwise a married couple could exclude the full $500,000, an individual a single individual limited to $250,000 exclusion. If you don't make the 2 years or several ways that you can beat that depending on the extenuating circumstances of why you had to sell, thank you very much."

eHow Article: Tips for Selling your Home Income Tax Deductions

Related Ads

  • Have you done this? Click here to let us know.
Personal Finance
Mark P Cussen, CFP, CMFC,

Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.

Get Free Personal Finance Newsletters

Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy.   en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.

eHow Personal Finance
eHow_eHow Business and Finance