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Tax Considerations >Capital Gains Exemptions

Home sellers are always interested in their tax deduction options. If you recently sold a home without meeting the basic ownership and use criteria for waiving capital gains tax, you might still be able to claim reduced exemptions if you meet certain other criteria.

Homeowners who had to sell because of a change in place of employment can qualify for reduced tax. You must prove that the job change occurred while you owned and used the home as your primary residence, and that your new job is located at least 50 miles farther from your residence than your previous place of employment.

A reduced exclusion from capital gains tax may also be granted for health reasons. If your motivation for selling your house was to obtain diagnosis, treatment or cure for a disease or injury to you or a family member, you can apply for an exclusion. Unforeseen circumstances such as death, unemployment, divorce or natural disasters may also reduce your capital gains tax. Consult a tax professional for advice about your unique circumstance.

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Q	What does the term ARM stand for?
A	An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market.
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Dwight E. Hathaway, REALTOR®, real estate agent and broker for North Brunswick, New Brunswick, South Brunswick and East Brunswick, New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Dwight E. Hathaway
RE/MAX Classic Group
3322 Route 22 West, Suite 908
Branchburg, NJ 08876
908-895-1850
Fax: 908-231-7799
dwighthathaway@NUMBER1EXPERT.COM
Dwight E. Hathaway "SELLS" homes JUST LIKE YOURS!!! In Middlesex County there is NO OTHER Realtor capable, ready, willing, able and technically advanced enough to meet your needs. No matter how large or small Dwight does it all. Just call or email him today!

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