Only as the reduction of the taxable amount during the sale of the home. Depending on length of residency and amount of the sale, you may have a tax due on the sale of a home. The tax would be paid on the profit from selling. A seller can deduct the cost they paid for the home, and amounts used to upgrade the structure and property during the sales process.
by Cindy Pierre5 years ago
Could a flat tax work if it was implemented with exceptions?If a flat tax was implemented having exclusions like food, but a higher rate on luxury items would it work?
by Susan Reid5 years ago
The Gish Gallup. Who knew?http://www.dailykos.com/story/2012/10/0 … ish-Gallop
by IncomePowerBoost7 years ago
This is one of the mail reasons to open a home base business. You could save 30-50% on what you are currently paying. Search small business tax deductions in goggle to find out more. If you plan on opening...
by Holle Abee6 years ago
The Hermanator is ahead of Romney in several polls. Whoda thunk it?I think it would be cool for two black men to run for POTUS! Of course, Cain might just be the "flavor of the week."Think of the great campain...
by Alex J. Reissig5 years ago
Would you support a flat 15% income tax?Would you support a flat 15% income tax in this country? Other than a personal deduction (possibly in the neighborhood of 25k per individual/50k per couple) there would be...
by Valene5 years ago
Is it "safe" to get your taxes done for free by one of these local community organizations?I need to save money on getting taxes done this year and I am considering going to a local non-profit in my community...
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.