Most sellers find out what they owe the IRS after closing, not before. This free guide walks you through the $250,000/$500,000 home sale tax exclusion, what actually counts as taxable gain, and a depreciation trap that catches former landlords and home office filers off guard, before you sign a listing agreement.
Because I hold both a real estate license and I'm trained in tax preparation, this isn't a generic seller checklist. It reflects how taxes and real estate actually interact in Lake, Porter, and LaPorte Counties.
What's inside
The Section 121 exclusion and who qualifies
How your taxable gain is actually calculated
Capital gains rates if your profit exceeds the exclusion
The depreciation recapture trap for former landlords and home offices
Six questions to answer before you list