Sentences with phrase «couple primary residences»

I have bought and sold a couple primary residences and I have worked in lending for 10 years but I've never taken the leap to investing.

Not exact matches

Accredited meant you had to have earned more than $ 200,000 annually for at least two years ($ 300,000 for couples) and have a net worth greater than $ 1 million, not including your primary residence.

However most of them require the investor to be an «accredited investor» which means you either make $ 200k annually (or $ 300k as a couple) or have a net worth of over $ 1M excluding your primary residence.

(Selling a primary residence is subject to capital gains taxes, too, but the first $ 500,000 in profit for a married couple is exempt from taxes; it's $ 250,000 for a single person.)

An accredited investor is defined by the Securities and Exchange Commission as a person with earned income that exceeds $ 200,000 — $ 300,000 for married couples — per year in each of the previous two years, or someone with a net worth of over $ 1 million, not counting his primary residence.

For years prior to 1982, each individual taxpayer can designate one principal residence, so if a couple has owned both a primary home and a cottage for decades, the principal residence exemption is available for both homes for the years prior to 1982.

In the meantime, HUD has issued a ruling essentially saying that for reverse mortgages closed after August 4th of this year, a non-borrowing spouse can remain in the house after the borrowing spouse dies, assuming the couple was married at the time of the loan closing, occupied and continues to occupy the house as a primary residence and the non-borrowing spouse is listed on the loan documents.

Married couples filing jointly can exclude up to $ 500,000 as long as either one has owned the residence, and both used it as a primary home for at least two out of the last five years.

The home is not my primary residence and I currently have it rented out to an elderly couple.

If you are a same sex couple where one partner was a Borrower at loan origination and the other a Non-Borrower the Mortgagee Letter states you must have been in a committed relationship and occupy the property as your primary residence at origination.

These are individuals or couples that earn well over $ 100,000 per year, but aren't considered rich yet by today's standards (having a net worth, excluding primary residence, of over $ 1,000,000).

Although technically not a marriage bonus, some newly married couples buy their first home and qualify for several new tax deductions, including all closing costs and any interest paid on a mortgage for a primary residence.

However a couple with $ 200,000 in adjusted gross income who has a $ 100,000 capital gain above the $ 500,000 primary residence exclusion amount would have to pay an additional 3.8 % on the extra $ 50,000 above the joint $ 250,000 limit.

As many readers have pointed out: while their primary residence may have appreciated significantly over the last couple of decades, so did the price of smaller homes.

«Plus, capital gains on sales of primary residences are tax - free up to $ 500,000 in gains for a married couple filing jointly.

Under Code Section 121, a taxpayer can exclude up to $ 250,000 ($ 500,000 for married couples filing jointly) of gain realized on the sale of a principal (primary) residence if they have owned and occupied the residence for two years during the five year period preceding the date of sale.

Accredited investors must have a single or joint net worth of more than million dollars (not counting primary residence), or income greater than $ 200,000 for the last two years, or $ 300,000 for married couples.

A couple of years ago my in - laws bought a house in our area of Florida (their primary residence is still up north until Mama PoP retires) when prices were super depressed.

Of course, some rules apply, like the one mentioned above — the person or couple claiming the exclusion needs to have lived in it as a primary residence for at least two of the five years preceding the sale.

(In the U.S., when you sell your primary residence, up to $ 250,000 of capital gains for an individual — or $ 500,000 for a couple — can be excluded from your income.)

For most married couples, their home, the marital residence, and their retirement plans are the primary assets in a divorce and in a bankruptcy.

We currently do not facilitate private infant adoptions (non-CPS) for individuals or couples living abroad or outside the Greater Houston area, even for those who have «primary» or «permanent» residence in Houston.

In divorce cases that were filed prior to October 1, 2006, a court has limited authority over a home owned by a divorcing couple that is used as their primary residence.

After a couple of years, you buy another duplex, move into it (primary residence) and rent out the vacant side you just moved out of.

My wife and myself have been considering renting our primary residence for a couple of weeks during the summer but have been nervous about the risk.

For couples, neither the individual nor the spouse or common law partner can have previously owned a primary residence anywhere in the world;

Section 121 of the Internal Revenue Code («121 exclusion») provides that property held and used by you as your primary residence for at least 24 months out of the last 60 months can be sold and you can exclude from your taxable income up to $ 250,000.00 in capital gains if you are single (per homeowner / person) and up to $ 500,000.00 in capital gains for a married couple filing a joint income tax return.

The loan amount you qualify depends on your credit history and income, to name a couple of factors, for buying a primary residence (which includes house hacking... since you're living there.)

Says: Additionally, the passed bill included an extension to keep tax - free the sale of a primary residence for American homeowners who profit $ 250,000 or less ($ 500,000 for married couples) from the sale of their home.

A single seller can walk away with up to $ 250,000 tax - free when he sells his primary residence; a married couple up to $ 500,000.