Washington D.C., NW Washington DC, and Chevy Chase, DC real estate and homes for sale in Washington D.C. - Linda Low, REALTOR® Linda Low REALTOR(r) for Washington D.C., NW Washington DC, and Chevy Chase, DC, Washington D.C. real estate - NUMBER1EXPERT™ Linda Low NUMBER1EXPERT(tm) for Washington D.C., NW Washington DC, and Chevy Chase, DC, Washington D.C. real estate
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Linda Low, REALTORŪ, real estate agent and broker for Washington D.C., NW Washington DC, and Chevy Chase, DC Washington D.C. home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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Real Estate Trivia
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What country of the world has the highest percentage of private housing?

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Mongolia, where 100% of all properties are owner-occupied.
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Linda Low, REALTORŪ, real estate agent and broker for Washington D.C., NW Washington DC, and Chevy Chase, DC Washington D.C. home listings, property and land for sale - NUMBER1EXPERT(tm)

Linda Low
Long & Foster Real Estate, Inc.

Phone: (202) 232-4733
Fax: (202) 332-3072
Branch Office: (202) 363-1800
Email: linda@lindalowrealtor.com

Linda is one of the premier real estate agents in the Washington, DC area. She has been ranked consistently in the top twenty for the area in residential sales. She has lived in the District for 30 years and knows the DC and nearby Virginia and Maryland markets cold. Her love of houses, previous career as an historic preservation consultant, and her 20 years of dramatic success in real estate sales allows her clients to benefit from her unsurpassed expertise and service. Linda and her team produce stellar results. They will maximize the sales price of the house you're selling and/or help you buy your ideal home. Linda's satisfied clients return to her again and again and are her primary source of business. If you're looking for a true DC Metro real estate expert with a great supporting team, you've found them!

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