Unique and Fabulous! 5 bdr 3.5 baths, full basement, 3 car garage, and rentable apartment! Supurbly decorated by artist/owner. Kitchen completely redone - granite counters, maple cabinets, new appliances, ceramic floors. Beautiful hardwood flooring too!
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.
Where is the world's largest wine cellar, and how big is it?
A
A company in the center of the wine-growing district of South Africa has a cellar that covers an area of 54 acres and has a capacity of 27 million gallons.
Hello. I'm Bonnie Wolfe. Anne Arundel County is a beautiful place to live, and I would love to help you find a home, or sell your old home. Selling houses and helping people find homes they love means a great deal to me. This is why I am Coldwell Banker's top producer in Anne Arundel County.
Top producer ranking is not the result of high pressure tactics. It results from matching the right buyer with the right house. In real estate, a bad realtor is actually more expensive than a good one. The commission is the same, but a poor realtor could put you in the wrong home. That is an expensive mistake. So choose America's #1 Real Estate Expert™ for Anne Arundel County, and let me put you with the right home! Call or email me today!
www.severnaparkrealestate.com
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NUMBER1EXPERT in real estate for Severna Park and Arnold, Maryland
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