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Current Selection: All Prices All Types All Locations New Selection Sorted By: Default New Sort
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    Leased - 40335 CREEKWAY COVE CT $1,500  MONTHLY  
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Address:   40335 CREEKWAY COVE CT    City/ST:   GONZALES, LA   Zip Code:   70737  
Location:   GONZALES   Property Type:   Rental   New or Resale:   Resale   
Square Footage:   1401   Bedrooms:   3   Bathrooms:   2  
MLS#   B0907500  



Last Updated: 12/28/2009 1:38:30 PM
Listing Agent and Office:  KIM SMITH, EXIT REALTY KEYSTONE

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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 was the first land designated by the US government as a National Park?

A 
Yellowstone was established "as a public park or pleasuring ground for the benefit and enjoyment of people" in March 1872.
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Exit Realty Keystone, REALTOR®, real estate agent and broker for Baton Rouge, Prairieville/Gonzales and Denham Springs/Walker, Louisiana home listings, property and land for sale - NUMBER1EXPERT

Exit Realty Keystone
Exit Realty Keystone

5841 South Sherwood Forrest Blvd.
Baton Rouge, LA 70816
225-293-0001
Fax: 225-293-0002
sharlasossamon@NUMBER1EXPERT.com


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