Selling a Home

More in Selling a Home

Can I Deduct a Loss of Money on My Home Sale on My Income Tax Return?

In a stagnant real estate market, many homeowners are facing the prospect of selling their homes for a loss. Although normally a loss taken on the sale of personal property, including a house, is not tax-deductible, you can take a write-off in certain limited circumstances.

Effects of a Quitclaim Deed on Cost Basis

When you sell a house, your taxable gain is the home's sale price minus its "basis." If you bought the house, the basis is usually what you paid for it, with a few adjustments -- hence the term "cost basis." If you inherit the house or receive it as a gift, ...

A Second Home and Capital Gain Tax Rules

When it comes to capital gains taxes, the Internal Revenue Service draws a hard line between homes used as principal residences and investment properties. You can usually sell your primary home without worrying about taxes, but different rules apply to vacation homes and rental ...

The Seller's Closing Costs & Tax Write-Offs

Home seller closing costs vary a great deal, depending on where you live -- and most of these expenses are not tax deductible. You do get to take certain traditional tax deductions, such as any interest and real estate taxes you paid as part of closing. However, other costs, ...

Do I Have to Pay Capital Gains Taxes If I Sold My Home?

When you sell an asset for more than you paid for it, the Internal Revenue Service refers to your profit as a capital gain, and it's taxable. The law makes a big exception, however, when the asset in question is your primary residence. Most homeowners in most situations will not ...

How to Estimate the Worth of Your Home

The value, or worth, of your home is the amount for which you could sell it today on the open market to a willing buyer in a fair transaction. There are many factors that determine how much someone would pay for your home, but, in general, a buyer will pay approximately the same ...

How to Calculate Capital Gain on Sale of House Property

Regardless of why you own a house, the Internal Revenue Service will levy capital gains taxes on some or all of your profits. While the tax treatment differs depending on why you own the property, the capital gain calculation is the same. You subtract your cost from your sales ...

What Is the Difference Between the Deed of Absolute Sale and the Deed of Assignment?

The deed of absolute sale, which is used in most real estate purchases, transfers property without any conditions beyond satisfaction of the purchase price. A deed of assignment, by contrast, can be used any time one party wants to transfer contractual rights to another. Deeds ...

Reasons for Delisting a House

Selling a home is one of life’s anxiety-producing experiences. You’re locked in a dance with buyers with no less than your living space and the emotions surrounding it at issue. Once you home is listed publicly for sale, you may discover a variety of reasons for ...

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