Todd
May 22, 2008, 10:28 PM
If you sell your primary residence in the U.S. you do not pay any capital gains taxes if your gain is under $250,000. For a married couple the gain can be up to $500,000. If you make more than half a million you'll pay some taxes.
http://www.associatedcontent.com/article/192407/avoiding_capital_gains_tax_on_the_sale.html
You will still most likely be paying the 6% (+/- ) commissions when you use a Realtor to sell. Personally, I still think it's a better deal than paying fees, loads, commissions and taxes on income for other investments such as stocks and mutual funds (although I have a few of those in my IRA - gotta have some diversity :-)).
Todd Smith
http://www.associatedcontent.com/article/192407/avoiding_capital_gains_tax_on_the_sale.html
You will still most likely be paying the 6% (+/- ) commissions when you use a Realtor to sell. Personally, I still think it's a better deal than paying fees, loads, commissions and taxes on income for other investments such as stocks and mutual funds (although I have a few of those in my IRA - gotta have some diversity :-)).
Todd Smith
