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  • Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from Judy Taub, a proven Johnson City, Erwin TN and Asheville NC, Tennessee NUMBER1EXPERT™ Top Selling real estate agents.

  • Find Johnson City, Erwin TN and Asheville NC Homes - Find Johnson City, Erwin TN and Asheville NC, Tennessee real estate listings & homes for sale provided by Judy Taub, your local expert real estate agents.

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  • For Home Sellers - Get home selling information, fsbo information, expert advice, find out what your home and other homes in your neighborhood are selling for, and much more from Judy Taub, a proven Johnson City, Erwin TN and Asheville NC, Tennessee NUMBER1EXPERT™ Top Selling real estate agents.

  • Johnson City, Erwin TN and Asheville NC Information - Find local information on Johnson City, Erwin TN and Asheville NC, Tennessee including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by Judy Taub, a proven NUMBER1EXPERT™ Top Selling real estate agents.

  • Real Estate Resources - Find real estate related resources including real estate news, tips, dictionary, trivia, mortgage calculators and information, local real estate related services, and much more from Judy Taub, a proven Johnson City, Erwin TN and Asheville NC, Tennessee NUMBER1EXPERT™ Top Selling real estate agents.

  • About Judy Taub - Information about Judy Taub including testimonials, guarantees, credentials, and contact information. Learn why Judy Taub is a proven Johnson City, Erwin TN and Asheville NC, Tennessee NUMBER1EXPERT™ Top Selling real estate agents.

 

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School Reports in Johnson City TN, Erwin TN and Asheville NC, Tennessee
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Real Estate Tips
Tax Considerations >Your Tax Free Profits

Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.

With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.

You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.

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Real Estate Trivia
Q 
What high-profile rental property rents for $13,500 a month although the star hasn't lived there for over 20 years?

A 
Shirley MacLaine's name is still used to promote her Encino, CA, estate even though she hasn't lived there in years.
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Judy Taub, REALTOR®, real estate agents and broker for Johnson City, Erwin TN and Asheville NC Tennessee home listings, property and land for sale - NUMBER1EXPERT(tm)

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206 2nd Street
Erwin, TN 37650
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