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All agents are NOT alike! Find out why I am the #1 RE/MAX Realtor in Central Ohio for the past 6 years. Call me at: 614-792-2222.
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Get Free Presentation On My Home Marketing. Before signing a contract with any RealtorŪ, make sure you know EXACTLY how your home will be marketed. Find Out More > View All Offers >
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Compare three mortgages
at one time. Download TripleCalc now. It's free.
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Richard Sanford is one of The Top
Selling Real Estate Experts Find Out More > |
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Welcome! Here You Can Find Great Information about Columbus, Dublin, Hilliard, Powell, Westerville, Lewis Center, Worthington, Upper Arlington, New Albany, Bexley, Southern Delaware County and Central Ohio Real Estate
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Need real estate information about Central Ohio? I've summarized much of what is important about the Central Ohio real estate market within this site. Check out the "Local Information" tab for area links. Need an expert's advice? No web site, large or small, can take the place of a top RealtorŪ with local area knowledge and experience. This site is filled with ways that you can contact me for one-on-one personal help and assistance. Contact me with confidence! I guarantee your privacy will be respected and I offer the services on this site free of charge and without any obligation. Why? Because I want to be YOUR RealtorŪ for life. As your trusted, professional real estate partner, I will help you find the best home in Central Ohio within your price range and parameters. Together, we will sell your home, for as much as the market will allow, and as quickly as possible. Buying and selling a home may be one of the biggest events in your life. As a the #1 RE/MAX RealtorŪ in Central Ohio for the past 6 years, I have the experience and track record you deserve. - Richard Sanford, Broker Dublin Ohio Real Estate |Dublin OH Real Estate | Dublin OH Homes For Sale | Dublin Ohio Houses For Sale | Dublin OH MLS Listings | New Albany Real Estate  |
Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
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| Q |
Who is the world's largest landowner?
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| A |
The United States government, with holdings of 728.8 million acres of land.
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See More Real Estate Trivia > |
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