| |
| |
|
IRS Summertime Tax Tip 2011-15, August 8, 2011
The Internal Revenue Service has some important information to share
with individuals who have sold or are about to sell their home. If you
have a gain from the sale of your main home, you may qualify to exclude
all or part of that gain from your income. Here are ten tips from the
IRS to keep in mind when selling your home.
- In general, you are eligible to exclude the gain from income if you
have owned and used your home as your main home for two years out of the
five years prior to the date of its sale.
- If you have a gain from the sale of your main home, you may be
able to exclude up to $250,000 of the gain from your income ($500,000 on
a joint return in most cases).
- You are not eligible for the exclusion if you excluded the gain
from the sale of another home during the two-year period prior to the
sale of your home.
- If you can exclude all of the gain, you do not need to report the sale on your tax return.
- If you have a gain that cannot be excluded, it is taxable. You
must report it on Form 1040, Schedule D, Capital Gains and Losses.
- You cannot deduct a loss from the sale of your main home.
- Worksheets are included in Publication 523, Selling Your Home,
to help you figure the adjusted basis of the home you sold, the gain (or
loss) on the sale, and the gain that you can exclude.
- If you have more than one home, you can exclude a gain only
from the sale of your main home. You must pay tax on the gain from
selling any other home. If you have two homes and live in both of them,
your main home is ordinarily the one you live in most of the time.
- If you received the first-time homebuyer credit and within 36
months of the date of purchase, the property is no longer used as your
principal residence, you are required to repay the credit. Repayment of
the full credit is due with the income tax return for the year the home
ceased to be your principal residence, using Form 5405, First-Time
Homebuyer Credit and Repayment of the Credit. The full amount of the
credit is reflected as additional tax on that year’s tax return.
- When you move, be sure to update your address with the IRS and
the U.S. Postal Service to ensure you receive refunds or correspondence
from the IRS. Use Form 8822, Change of Address, to notify the IRS of
your address change.
For more information about selling your home, see IRS Publication 523, Selling Your Home. This publication is available at www.irs.gov or by calling 800-TAX-FORM (800-829-3676).
|
|
Social Bookmarking
Normal
0
false
false
false
EN-US
X-NONE
X-NONE
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:"Times New Roman";
mso-bidi-theme-font:minor-bidi;}
The local Atlanta real estate market measurements turned more positive
during the 2nd quarter of 2011, providing some encouraging
signs.
August 1, 2011
Year to Date sales were a bit higher than in June of last
year even though government incentives stimulated sales during early 2010. Still, ample evidence remained that the
market has not yet turned to growth in many other aspects.
Distressed sales represented 4 of every 10 sales during the
2nd quarter of 2011.
Motivated sellers must adapt to the current condition by offering their
properties at a high value compared with competing properties, including these
distressed properties, in order to sell at a reason percentage of their asking
price.
In the meantime, buyers have the opportunity to buy
high-value properties at unusually attractive prices. These properties exist in all price ranges
and may become the catalyst needed to finally start a recovery.
If you want to take advantage of the low prices call Kelly Marsh at 678-576-7075
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | 31 | 1 | 2 | 3 | 4 |
Ashford Park, Atlanta
-
We invite everyone to visit our open house at 1860 Hickory Road on
May 29
from 3:00 PM to 5:00 PM.
Property information
Copied from an email from Karen Dernavich (with permission):
May 2011
We recently learned that Dekalb County is closing park bathrooms due to budget cuts. Your Ashford Park Civic Association is leading the charge to keeping them open and clean. We need your help! We have contracted with a locally owned and operated cleaning company to clean the bathrooms several times a week. It is now up to us - the regular park users - to raise the funds to continue this cleaning service so the bathroom will remain open for use.
We need to raise the cash to cover the cost of the cleanings and any additional funds will be used to purchase and install high flow toilets in there so we have less clogging issues. We have over 1200 homes in Ashford Park and many of these homes use the park for various activities. Additionally, many of you come from outside our neighborhood to use the park. I raised this issue with the Ashford Park Playgroup first and they have raised about $300 alone. Please join us in keeping our park GREAT!
To make a payment, you can use the APCA paypal "donations" button at ashfordpark.org or you can mail a check to Karen Dernavich 3321 Alden Place Dr. Atlanta GA 30319 (checks should be payable to "APCA" with bathroom fund in the "for" line). Our goal is to raise enough money to cover 1 year of cleanings ($750) AND buy the high flow toilets ($325 each) needed. Any left over money will be set aside for next year's cleaning service.
Even if you can only give $10, this will go a long way in getting us to our goal. I know we all love the park so let's get this done and show everyone we care. Thank you in advance for your participation in making our park GREAT!
Rent the Community Center at Ashford Park
Now that our new building at Ashford Park is open, we've had considerable interest in how residents can reserve it for parties and other gatherings. Here's the detail: Standing capacity is 150 persons. Cost: $100, +$25/hour after 4 hours. If you plan to have an inflatable "bouncer", there is a $55 "inflatable permit" required. No alcohol is permitted. The building must be vacated by midnight. It has 8 tables and about 50 chairs. Applications must be made at least 15 days in advance of your event. To reserve the building, call the Dekalb County information line at (404) 371-2631 or contact Jackie Swain. jdswain@dekalbcountyga.gov.
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 27 | 28 | 1 | 2 | 3 | 4 | 5 |
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 | 1 | 2 |
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
Ashford Park, Atlanta (DeKalb County) - We invite everyone to visit our open house at 1773 Georgian Terrace on Sunday March 27 from 3:00 PM to 5:00 PM.
Property information
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 30 | 31 | 1 | 2 | 3 | 4 | 5 |
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 1 | 2 | 3 | 4 | 5 |
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
Ashford Park, Atlanta (DeKalb County) - We invite everyone to visit our open house at 1773 Georgian Terrace on February 13 from 3:00 PM to 5:00 PM.
Property information
2949 Surrey Lane Ashford Park, Atlanta (DeKalb County) -
4 bedrooms 2.5 baths COMPLETELY REMODELED
approx 1728 sq ft
$350,000
Click link below for details and more photos:
Property information
January 12, 2011
Ashford Park has a book club!
We meet the last Thursday of the month at different homes around Ashford Park. We read all types of books and we all bring 'something' to share ( wine, snacks, etc) to the meeting. We socialize and enjoy an evening of lively book discussion. (And its even OK if you come and haven't read the book!) The group is made up primarily of women, but all are invited to join us!
Our next meeting will be: Thursday, JANUARY 27 at 7pm
Book: 'The Blind Assassin' by Margaret Atwood.
Location: The Muscio's 1836 Georgian Terrace.
RSVP: hollandmuscio@mindspring.com or 770.455.8155 h
If you would like to join the email list for the bookclub, please visit: http://groups.google.com/group/apbookclub
We hope you'll join us and get to know your neighbors!
If you are a curious Brookhaven resident and want to know what is coming to Town Brookhaven, then welcome Olive Bistro, slated to open in 2011. Olive Bistro has two location currently in Atlanta. Steve Masri, owner/chef says his concept is a cozy cafe from which he could serve his favorite family recipes to locals who appreciate good food, good prices, wine and warm service. Yelp reviews are pretty positive, the Cobb Parkway location has an average of 4 out of 5 stars and the Midtown location had an average of 3.5 stars out of 5. The style is authentic Mediterranean food from his family recipes and my mouth is watering right now just writing about it! My fellow neighbors and clients are always looking for another place to eat close to home, so we are excited. Check out the menu and watch for my review on Yelp when it opens.
You can also "LIKE" the Brookhaven facebook page for more information about what is going on in the area.
The bar crowd The amazing Catfish
We were thrilled to be at the grand opening on Christmas Eve 2010. The decor was warm and inviting with a generous bar plus a big long community bar table in the middle.
The back of the restaurant is where the brick arched open kitchen sits. The walls were somewhat bare, but I assume that they are planning on placing art work on the walls soon.
We plopped down at the community bar table and that is when the fun began and the drinks started to flow! We met several people, including some of the owners,
plus ran into some neighborhood friends and clients. I was thrilled when a few of the people I knew said they came that night because of my facebook posting.
I suspect this bar will not have an empty seat as soon as the neighborhood gets back from the holidays. Unlike the adjacent restaurants, this one stays open past 10 pm ...
thank goodness!
I ordered the Ahi Tuna Tartare (12$) which was presented in a thick round patty with avocado, tomato, coriander, feta & yuzu on top. It was DELICIOUS!
My husband Joe order the Shrimp-n-Grits (17$) which came with andouille, silver queen corn, vermont white cheddar grits, roasted peppers, & creole cream.
OMG it was to die for...I had to have more than one bite! Our table mates ordered several dishes and they were sweet enough to let us taste the Azalea’s Famous
Whole Sizzling Catfish (ONLY 16$). It had chinese black bean sauce, pickled ginger, lime... and was really good. That says a lot since I have never met a catfish I liked.
.....
I think I have found my new hangout spot in Brookhaven.
.
Albert Parnell and daughter The Fox family
Chef Joey Riley talking w/ customers Me and my husband Joe Bickley
Cherie Tatum, Ron Latawiec & Cheri's son Kathy, my seat mate at the community bar table
Kaleidoscope bistro & pub is located at Village Place Brookhaven
1410 Dresden Dr, Suite 100
Atlanta, GA, 30319
Hours:
Monday-Thursday: 5:00pm-12:00am
Friday: 5:00pm-2:00am
Saturday: 12:00pm-2:00am
Sunday: 12:00pm-10:00pm
MENU
Ashford Park, Chamblee - $275,000 1794 8th Street, a 2,200 sq. ft., 3 bath, 3 bdrm 1 1/2 story. Now 
MLS® $275,000 - Pre approved Short Sale!.
Property information
Ashford Park, Atlanta Georgia - 1935 Dresden Dr, a 1,531 sq. ft., 2 bath, 5 bdrm 1 1/2 story. Now $139,000 - DEAL OF THE CENTURY!.
Property information
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 31 | 1 | 2 | 3 | 4 | 5 | 6 |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | 1 | 2 | 3 | 4 |
| 5 | 6 | 7 | 8 | 9 | 10 | 11 |
Ashford Park, Atlanta (DeKalb County) - We invite everyone to visit our open house at 1807 Duke Rd. on November 7 from 3:00 PM to 5:00 PM.
The house is priced at $350,000 and is a 3 bedroom 2 full bath renovated home with a 2 car garage. See the link below for more information about this property:
Property information
If you had an FHA-insured mortgage, you may be eligible for a refund from HUD/FHA. You DO NOT need to pay another person or firm to assist you in collecting your refund or share payment.
Beware of "tracers" who offer to help you collect your refund for a fee. Although this practice is not illegal, you can get your refund directly from FHA for free.
Check out the U.S. Department of Housing and Urban Development website to see if you are eligible.