Originally Posted by TrippM (Post 4766714)

Spent in the calendar year or in a 12 month period?

Originally Posted by thisistank (Post 4766717)

In the tax year you sold the home. There's a couple ways to extend but you basically have to be prepared to buy.

Originally Posted by thisistank (Post 4766717)

In the tax year you sold the home. There's a couple ways to extend but you basically have to be prepared to buy.

Originally Posted by Eddienel (Post 4766726)

That second home you found on the 1st page for $500k with the huge boathouse was the bomb. I’d jump on that for that price. Of course I would definitely have to get an estimate on the taxes for that little slice of heaven but I can’t image them being more than what he’s already paying in California.

Originally Posted by Griff (Post 4766637)

Capital Gains on a Home Sale

A home used as your principal residence gets special capital gains tax treatment upon sale if certain requirements are met. That special treatment means that you can exclude from taxation up to $250,000 in gains ($500,000 if you're married filing jointly).

To qualify for that exclusion, the following must be true:

• You've owned the home for two of the last five years.
• You used the home as your principal residence for two of the last five years.
• You haven't used the exclusion on another property sale within the last two years.

Additionally, if you're married filing jointly, both you and your spouse must meet all the requirements for you to get the exclusion

Originally Posted by thisistank (Post 4766734)

Yeah, it's a cool spot. I like the thought of being on the main channel for the entertainment value but FUK, I've seen the wakes the big yachts throw all day. Holy crap. I couldn't imagine how bad that dock gets beat to sh!t.

I've been eye ballin this place for a while. Cool spot, in a cove, nice house, decent price, lots of creature comforts.

https://www.zillow.com/homedetails/6...85078728_zpid/

Originally Posted by F-2 Speedy (Post 4766736)

nice looking place, those docks are packed in there like cord wood, you'd be hard pressed getting a big boat in and out

Originally Posted by Cash Bar (Post 4766744)

This is the place we loved but couldn't stretch the extra $250k so we are using it as a model/guide for our lot and build. Ours will be a bit more contemporary but the same level lot and cove setting

1103 Muirfield Dr, Porto Cima, MO, 65079 | realtor.com®