Smart real estate moves: How to combine two IRS provisions for huge tax savings
BY Catherine Lightfoot, CPA, CHBC, Director of Healthcare at EEPB Does this sound like you? While real estate housing markets have cooled off in some areas, many homeowners have values on their principal residences that are worth far more than what they originally cost. When selling these homes, the gains could be well in excess of the principal residence gain exclusion allowed by the IRS ($250,000 for single filers, or $500,000 for joint filers)....