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 >

The Smith Team
Keller Williams - The Smith Team
701 University Drive East, Suite 405
College Station, TX 77840
979-777-7677
Fax: 979-260-3304
AndrewSmithTeam@NUMBER1EXPERT.com

www.RealEstateBCS.com is brought to you by The Smith Team
NUMBER1EXPERT™ in real estate for College Station, Bryan and Brazos Valley, Texas

Read The Smith Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge