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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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December 9, 2004

The Real Estate Adviser: Don't pencil in home sale loss

By TOM KELLY
Special to the Journal

Most homeowners are now clear on the ability to pocket up to $500,000 of tax-free capital gain ($250,000 for single people) on the sale of a primary residence. The huge benefit, which can be used every two years, was made possible by the Taxpayer Relief Act of 1997.

While most families do not move every two years, the tax-free possibility does exist for folks who may face a job transfer or for others who simply wish to take advantage of rapidly appreciating markets -- like the Puget Sound.


 
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