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  • Why Buyers Choose Jason Sanderson and The Sanderson Team - Why homebuyers looking for a real estate agents in the New Bern, Havelock and Oriental area choose Jason Sanderson and The Sanderson Team.

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Real Estate Tips
Tax Considerations >Tax Implications of Selling Your House

Most of my clients profit from selling their homes, and they often have questions about capital gains tax. When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010. Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption. Consult your tax accountant for more detailed information regarding your particular circumstance.

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Real Estate Trivia
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Where will you find the world's most unusual golf course?

A 
The only golf course on the island of Tonga has 15 holes, and no penalty against the golfer whose golf ball is stolen by a monkey.
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Jason Sanderson and The Sanderson Team, REALTOR®, real estate agents and broker for New Bern, Havelock and Oriental North Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)

Jason Sanderson and The Sanderson Team
Prudential Clear Water Realty

246 Craven St.
New Bern, NC 28560
Cell: 252-671-6320
Office: 252-675-8212
Fax:: 252-633-4337
E-mail: Jason@SandersonTeam.com
E-mail: Sheri@SandersonTeam.com
E-mail: Barbara@SandersonTeam.com
E-mail: Marguerite@SandersonTeam.com

The Sanderson Team takes buying and selling real estate to a whole new experience. We are in continuous training from the Nations top real estate teams to learn new ideas and better ways that we can serve you. Please call The Sanderson Team for New Bern's top Real Estate Professionals.


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