dave.hoyle@abr-orlando.com
    407-529-4621

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Homes to Buy and Homes for Sale in the Orlando and Orange County Community

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Tax Implications of Selling a Home

Selling a home requires quite a bit of legwork. Your Realtor® will do quite a bit of it, but if you’re like most people, you’re probably reeling from everything that’s going on. From closing costs to taxes, there’s a lot to consider.

Let’s talk about those taxes.

The Tax Implications of Selling a Home

If your home was your primary residence for at least two out of the last five years, you may be excluded from having to pay taxes on the capital gains from the sale.

In some cases, you can take the exclusion on your profit even if you don’t meet their two-year requirement. For example, if you couldn’t live there because you were deployed by the military or another government organization, or if you’ve gotten divorced, you could be eligible.

Some people are eligible for partial exclusions, but those vary based on circumstance.

If you are required to pay taxes, the amount will be based on the sales price, your closing costs and your basis. Some things are deductible, such as the broker’s commission, your title insurance, and legal fees. However, there’s no one-size fits all solution for taxes, and this certainly isn’t mean to constitute tax advice. You’ll need to consult with a tax professional who can give you case-specific advice.

Let’s Talk about Putting Your Home on the Market

Call me at (407-529-4621) or contact us online. I have qualified buyers looking for homes all over the ABR Orlando area, and i’ll use our extensive experience to get your house in front of the right people.

 

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About Abr Orlando

We love working with Buyers and have worked hard to develop the skills necessary to assist our clients. All of us at Accredited Buyers Representative-Orlando LLC are certified as ABR®’s or working towards that and other NAR Designations to help you find your perfect spot. This short video highlights some of the important benefits of working with an ABR® when buying your next home. Education and Experience produce results for our clients.

ABR Orlando
1936 Lee Road Suite 100
Winter Park, FL 32789
Email: dave.hoyle@abr-orlando.com
Phone: 407-529-4621

  

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