Thinking of selling your house? Not surprisingly, the IRS wants its share. Over the past five years, home prices have jumped an average of 9% annually, according to the S&P CoreLogic Case-Shiller US National Home Price Index. The IRS home-sale gain exclusion is a fixed amount and not indexed for inflation. And the surge in housing values means that more home sellers can expect to hand over some of their windfalls to the IRS. Real estate accountant Jeffrey G. Olson, CPA, says you can save tens of thousands of dollars by avoiding these mistakes…
Full article here: Protect Your Profits
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