Lake Conroe real estate TX, Conroe real estate and Montgomery real estate, home listings and homes for sale in Texas, waterfront properties and golf course properties - Karen Monshaugen, REALTOR® Karen Monshaugen REALTOR(r) for Lake Conroe, Conroe and Montgomery, Texas real estate - NUMBER1EXPERT™ Karen Monshaugen NUMBER1EXPERT(tm) for Lake Conroe, Conroe and Montgomery, Texas real estate, waterfront properties and golf course properties
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Karen Monshaugen, REALTORŪ, real estate agent and broker for Lake Conroe, Conroe and Montgomery Texas home listings, property and land for sale - NUMBER1EXPERT(tm)
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We Bought and Closed - in 2 Weeks!
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Real Estate Tips
Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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Real Estate Trivia
Q 
Where is the world's largest mud building?

A 
The Grand Mosque in west Africa measures 328 feet long and 131 feet wide, and has been carefully maintained for centuries by local craftsmen, especially during the rainy season.
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Karen Monshaugen, REALTORŪ, real estate agent and broker for Lake Conroe, Conroe and Montgomery Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Karen Monshaugen, Broker Associate
Keller Williams Realty

2200 N. FM 3083 West
Conroe, TX. 77304
Office Phone: 936-525-3223
Office Direct: 936-788-3220
Fax: 936-441-8001
Email: Karen@LakeConroeFineLiving.com

I love Lake Conroe! I want to earn your business and referrals through exceptional customer service. My goal is to make your buying or selling process easier and I NEVER forget your needs. Relax and expect to be impressed.

CRSEqual HousingGRIMLSREALTOR


Keller Williams Realty

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