New Opportunities to Exclude Gain on the Sale of a Principal Residence

Article Abstract:

Pursuant to the Taxpayer Relief Act enacted by Congress, the Internal Revenue Service has passed regulations applicable to gains made on the sale of a principal residence.

Statistical Data Included

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New guidelines for like-kind exchanges

Article Abstract:

Guidelines have been established for the implementation of reverse like-kind exchanges. Ownership benefits and burdens are placed with the taxpayer while the exchange accommodator titleholder remains the property's beneficial owner.

Like-kind exchanges

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New regulations make life easier for homeowners

Article Abstract:

Issues concerning the taxation of a gain obtained through the sale of principal residences are discussed. The new regulations issued by the Internal Revenue Service to clarify the persisting ambiguous nature of home-sale taxation are interpreted .

Taxes, House selling, Home selling, Tax policy

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