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Specializing in Branson area Real Estate. Top Agent Carol Jones Realtors Branson the past 12ys. Allow me to assist with your Real Estate needs.
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For Home Sellers:
Why Sellers Choose Jim Strong - Why home sellers in Branson, Kimberling City, Shell Knob and Table Rock Lake choose Jim Strong. Free Presentation - Free in-home listings presentation on marketing your Branson, Kimberling City, Shell Knob and Table Rock Lake, in Paney and Stone County Missouri property. Property Valuation - How much is your Branson, Kimberling City, Shell Knob and Table Rock Lake home worth? What Did That Home Sell For? - What did that Branson, Kimberling City, Shell Knob and Table Rock Lake, Missouri property or other real estate sell for? FSBO - Selling your Branson, Kimberling City, Shell Knob and Table Rock Lake real estate on your own? Go to Main Sitemap - Main sitemap sections include Find Branson, Kimberling City, Shell Knob and Table Rock Lake Homes, For Home Buyers, For Home Sellers, Branson, Kimberling City, Shell Knob and Table Rock Lake Information, Real Estate Resources, and About Jim Strong. 
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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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| Q |
Where are the highest median price homes in the United States currently located?
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| A |
According to the NAR, the highest median price in the second quarter of 2005 was $726,900 for homes in California's San Francisco Bay area. |
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