[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.22.2″ _module_preset=”default” global_colors_info=”{}” custom_padding__hover_enabled=”off|desktop”][et_pb_fullwidth_header title=”Tax Information” text_orientation=”center” background_overlay_color=”rgba(0,0,0,0.5)” _builder_version=”4.24.3″ _module_preset=”default” title_font=”|||on|||||” title_font_size=”70px” subhead_font=”|||on|||||” subhead_text_align=”center” subhead_font_size=”16px” subhead_letter_spacing=”3px” background_color=”#000000″ background_image=”https:\/\/bankablerealty.com\/wp-content\/uploads\/2024\/04\/Untitled-design-6.png” background_enable_video_mp4=”off” background_pattern_repeat_origin=”center” custom_button_one=”on” button_one_use_icon=”off” button_one_custom_padding=”18px|30px|16px|30px|false|true” button_one_custom_padding_tablet=”18px|30px|15px|30px|false|true” button_one_custom_padding_phone=”18px|30px|15px|30px|false|true” button_one_custom_padding_last_edited=”on|desktop” custom_padding=”10vw||10vw||true|false” custom_padding_tablet=”10vw||10vw||true|false” custom_padding_phone=”10vw||10vw||true|false” custom_padding_last_edited=”on|desktop” title_font_size_tablet=”70px” title_font_size_phone=”32px” title_font_size_last_edited=”on|desktop” subhead_font_size_tablet=”16px” subhead_font_size_phone=”16px” subhead_font_size_last_edited=”on|desktop” global_colors_info=”{}”][\/et_pb_fullwidth_header][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Header” _builder_version=”4.24.3″ _module_preset=”default” background_color=”gcid-f53bea2f-11b6-47b2-a970-343c85385294″ use_background_color_gradient=”on” background_color_gradient_stops=”rgba(0,0,0,0) 0%|gcid-f53bea2f-11b6-47b2-a970-343c85385294 59%” background_color_gradient_overlays_image=”on” background_image=”https:\/\/bankablerealty.com\/wp-content\/uploads\/2024\/03\/business-05.jpg” overflow-x=”hidden” overflow-y=”hidden” collapsed=”on” global_colors_info=”{%22gcid-f53bea2f-11b6-47b2-a970-343c85385294%22:%91%22background_color_gradient_stops%22,%22background_color%22%93}” custom_padding_last_edited=”on|phone” custom_padding_phone=”||0px||false|false”][et_pb_row _builder_version=”4.24.3″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” custom_padding_last_edited=”on|phone” custom_padding_phone=”0px||0px||true|false” sticky_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.24.3″ _module_preset=”default” text_font=”||||||||” text_font_size=”22px” text_orientation=”center” hover_enabled=”0″ text_font_size_tablet=”22px” text_font_size_phone=”18px” text_font_size_last_edited=”on|desktop” global_colors_info=”{}” text_line_height_last_edited=”on|phone” text_line_height_phone=”1.8em” sticky_enabled=”0″]<\/p>\n
All information below is for informational purposes only. We are not here to give you tax and\/or legal advice. Please see your legal and\/or tax advisor for more information.<\/i><\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.24.3″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” custom_padding_last_edited=”on|phone” sticky_enabled=”0″][et_pb_column type=”1_2″ _builder_version=”4.24.3″ _module_preset=”default” custom_padding=”3vw||||false|false” custom_padding_tablet=”3vw||||false|false” custom_padding_phone=”3vw||||false|false” custom_padding_last_edited=”on|desktop” global_colors_info=”{}”][et_pb_heading title=”Exclusion of Capital Gains” _builder_version=”4.24.3″ _module_preset=”default” title_level=”h2″ title_font=”|||on|||||” title_font_size=”70px” title_font_size_tablet=”70px” title_font_size_phone=”28px” title_font_size_last_edited=”on|desktop” global_colors_info=”{}” title_text_align_last_edited=”on|phone” title_text_align_phone=”center”][\/et_pb_heading][et_pb_divider color=”#f71e19″ _builder_version=”4.24.3″ _module_preset=”default” width=”45%” hover_enabled=”0″ global_colors_info=”{}” module_alignment_last_edited=”on|phone” module_alignment_phone=”center” custom_margin_last_edited=”on|phone” custom_margin_phone=”||0px||false|false” sticky_enabled=”0″][\/et_pb_divider][et_pb_text _builder_version=”4.24.3″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#FFFFFF” text_font_size=”20px” link_text_color=”#f71e19″ text_font_size_tablet=”20px” text_font_size_phone=”16px” text_font_size_last_edited=”on|desktop” global_colors_info=”{}” text_orientation_last_edited=”on|phone” text_orientation_phone=”center” text_line_height_last_edited=”on|phone” text_line_height_phone=”1.8em”]<\/p>\n According to\u00a0<\/span>T<\/a>he<\/a> <\/a>Real<\/a> Estate Journa<\/a>l<\/a><\/i>, the general rule of thumb is that if you sell your primary residence, you typically can exclude a gain of as much as $500,000 if you’re married and filing a joint return with your spouse (or $250,000 if you’re single or married filing separately) and meet certain conditions.<\/p>\n To be eligible for the full exclusion, you typically must have owned the home and lived in it as your principal residence for at least two of the five years prior to the sale. These exclusion amounts aren’t indexed for inflation. (When calculating your cost basis, don’t forget to include additions and other “improvements,” such as a new roof, deck or heating system. However, this subject and other adjustments you may need to make can be tricky. For details, see\u00a0<\/span>IRS Publication 523<\/a>).<\/p>\n Please see your legal or tax advisor for further details.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][dsm_perspective_image src=”https:\/\/bankablerealty.com\/wp-content\/uploads\/2024\/04\/Untitled-design-8.png” title_text=”Untitled design (8)” use_overlay=”on” hover_overlay_color=”rgba(0,0,0,0.3)” use_icon=”off” _builder_version=”4.24.3″ _module_preset=”default” custom_margin=”|-25vw|||false|false” custom_margin_tablet=”|-25vw|||false|false” custom_margin_phone=”|-25vw|||false|false” custom_margin_last_edited=”on|desktop” global_colors_info=”{}” disabled_on=”on|on|off”][\/dsm_perspective_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.24.3″ _module_preset=”default” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.24.3″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” custom_padding_last_edited=”on|phone” custom_padding_phone=”0px||0px||true|false” sticky_enabled=”0″][et_pb_column type=”1_2″ _builder_version=”4.24.3″ _module_preset=”default” global_colors_info=”{}”][dsm_perspective_image src=”https:\/\/bankablerealty.com\/wp-content\/uploads\/2024\/04\/Untitled-design-8.png” title_text=”Untitled design (8)” use_overlay=”on” hover_overlay_color=”rgba(0,0,0,0.2)” use_icon=”off” _builder_version=”4.24.3″ _module_preset=”default” custom_margin=”|||-25vw|false|false” custom_margin_tablet=”|||-25vw|false|false” custom_margin_phone=”|||0vw|false|false” custom_margin_last_edited=”on|desktop” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/dsm_perspective_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.24.3″ _module_preset=”default” custom_padding=”3vw||||false|false” custom_padding_tablet=”3vw||||false|false” custom_padding_phone=”3vw||||false|false” custom_padding_last_edited=”on|desktop” global_colors_info=”{}”][et_pb_heading title=”1031 Tax Deferred Exchange” _builder_version=”4.24.3″ _module_preset=”default” title_level=”h2″ title_font=”|||on|||||” title_text_color=”#000000″ title_font_size=”70px” hover_enabled=”0″ title_font_size_tablet=”70px” title_font_size_phone=”28px” title_font_size_last_edited=”on|desktop” global_colors_info=”{}” title_text_align_last_edited=”on|phone” title_text_align_phone=”” sticky_enabled=”0″][\/et_pb_heading][et_pb_divider color=”#f71e19″ _builder_version=”4.24.3″ _module_preset=”default” width=”45%” hover_enabled=”0″ global_colors_info=”{}” module_alignment_last_edited=”on|phone” module_alignment_phone=”” custom_margin_last_edited=”on|phone” custom_margin_phone=”||0px||false|false” sticky_enabled=”0″][\/et_pb_divider][et_pb_text _builder_version=”4.24.3″ _module_preset=”default” text_font_size=”20px” link_font=”Tenor Sans|700|||||||” link_text_color=”#f71e19″ text_font_size_tablet=”20px” text_font_size_phone=”16px” text_font_size_last_edited=”on|desktop” global_colors_info=”{}” text_orientation_last_edited=”on|phone” text_orientation_phone=”” text_line_height_last_edited=”on|phone” text_line_height_phone=”1.8em”]<\/p>\n