Home sellers are always interested in their tax deduction options. If you recently sold a home without meeting the basic ownership and use criteria for waiving capital gains tax, you might still be able to claim reduced exemptions if you meet certain other criteria.

Homeowners who had to sell because of a change in place of employment can qualify for reduced tax. You must prove that the job change occurred while you owned and used the home as your primary residence, and that your new job is located at least 50 miles farther from your residence than your previous place of employment.

A reduced exclusion from capital gains tax may also be granted for health reasons. If your motivation for selling your house was to obtain diagnosis, treatment or cure for a disease or injury to you or a family member, you can apply for an exclusion. Unforeseen circumstances such as death, unemployment, divorce or natural disasters may also reduce your capital gains tax. Consult a tax professional for advice about your unique circumstance.

	See All Tips In The "Tax Considerations" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

JC Mernin, Jr.
Keller Williams Realty
11700 Plaza America Drive, #150
Reston, VA 20170
JC: 703-216-9669
Fax: 703-904-7201
Email: BrianandJC@NUMBER1EXPERT.com

JC: Serving My Clients with tenacity and innovative thinking.

www.4NovaHomes.com is brought to you by Mernin Associates
NUMBER1EXPERT™ in real estate for Reston, Ashburn and Vienna, Virginia

Read Mernin & Associates' Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge