1 of 7 photos Round Rock For Sale 5 Beds / 3 Baths
REDUCED $14,900!!! Executive-style beautiful home in Lake Forest. High ceilings with wall of windows. Upgraded with granite; island in kitchen. Gameroom. Large private yard...
1 of 14 photos Austin, Texas For Sale 4 Beds / 4.2 Baths
NEW PRICE! Gorgeous French country estate on +/- 3.7 acres of park like grounds in Westlake - RARE level lot(s). Gated entry adjacent to custom pond leads you down the private tree-lined path to home...
1 of 0 photos Austin, Texas For Sale 2 Beds / 1 Baths
House rewired, plumbed, roofed, and painted within the last 6 months. Living and hall flooring replaced with Armstrong hardwood laminate and vinyl in bathroom. Living/dining eating area...
REDUCED $10,000! Updated and ready to move into! Hardwoods, stainless appliances, granite tile countertops, fresh paint inside and out. Located on a nice, quiet cul-de-sac...
1 of 8 photos Austin, Texas For Sale 5 Beds / 3.5 Baths
Wonderful family home with owner's private boat dock across the street on Lake Austin. Gourmet kitchen with stainless appliances. Longleaf pine floors. Plantation shutters...
Country Living in Hutto. Large 1/2 Acre lot. This home has too many upgrades to mention, Formal Dining and a breakfast area. Flooring, fixtures,countertops,appliances,recent paint...
NEW PRICE! Fantastic home in Travis Country! Spacious floorplan with great windows, 2-story entry,hardwoods, tile, and carpet flooring. Gameroom upstairs. Large master suite with walk-in closet...
1 of 5 photos Round Rock For Sale 4 Beds / 2.5 Baths
Single Family Property, Subdivision: Cat Hollow, County: Williamson, Year Built: 1996, Two story, Central air conditioning, Community swimming pool(s), Fireplace(s), Dining room, Laundry ..
NEW PRICE!!! Owner/agent. Fabulous home in Old Enfield. Two-stories featuring 4 bedrooms, 3.5 baths, office/study, formal dining, formal living room, family room, and breakfast area...
1 of 1 photos Round Rock For Sale 4 Beds / 2 Baths
Rare single story in great community! Extra clean and ready to go. Wood floors, carpet, designer paint, and large rooms. Huge corner lot w/awesome backyard shaded by oak trees...
1 of 6 photos Austin, Texas For Sale 3 Beds / 2 Baths
Charming updated home with a great open floorplan! Interior painted in 2006. Pergo and tile flooring throughout. Recessed lighting. Stone fireplace. Vaulted ceilings in master suite and living area...
It seems as though everyone is offering some sort of tax advice for homeowners nowadays, but be sure that you receive the correct advice in every situation. While there are ways that you can receive a tax exclusion, be sure that you know the correct ways to receive this because having it wrong can cause you hardship in the future
Ownership and Use Tests In order to claim a tax exclusion, you must have lived in the house for two of the last 5 years. There is no way around that rule. You must have also been the owner of the home over that time. If the house has not been your main place of residence, then you are not eligible and you should pay your taxes on the sale. If you are eligible, however, you can exclude up to $250,000 on that sale. You are not able to deduct any losses than you may incur, however. If you are able to exclude money from your return, then you do not have to report it on your tax forms.
For those who own more than one home, you must make sure that the home that you sold could be considered your permanent residence. It is easy to figure this out, as your permanent residence is the place where you live the majority of the time. If you have sold your home and are wondering about tax breaks, make sure that you have things right because failure to do so can bring about major sanctions against you in the future.