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Let’s say a home is sold for $500,000. The seller’s costs to sell that home include a mortgage payoff balance of $300,000, real estate agent fees of $15,000, attorney fees of $1,000 and other ...
If you sell your house for $300K, you will need to add up your closing costs, mortgage payoff amount, Realtor commissions and other fees, then subtract that total from $300K to determine your net ...
You probably know that you pay ordinary income tax when you earn money from a job or interest on a bank account. Additionally, when you sell certain assets and have a profit, you must pay capital ...
When you sell your primary home, the IRS allows you to exclude a significant portion of the profit from your taxes. This exclusion – $250,000 for single filers and $500,000 for married, joint ...
So, if you sell your house for $400,000, say, you could end up paying your agent $12,000 in commission. However, you may be able to negotiate a lower commission , especially if the sale price is ...
If you sell your primary residence the IRS allows you to exempt a certain lifetime amount of profit from taxes. Single taxpayers can exempt the first $250,000 of capital gains from the sale of ...
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