Listing Details: Flower Mound, Carrollton, Lewisville and Denton County, Texas Real Estate Listings & Homes For Sale Provided by Sandy Luedke

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2Story Home w/ A lot of Features

$369,265

Photo of Trophy Club, Trophy Club, TX, 76262.

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City/ST: Trophy Club, TX	Zip Code: 76262	Property Type: Single Family Home
New or Resale: New	Square Footage: 3118	Bedrooms: 4
Bathrooms: 3 full, 1 half	MLS# LHT00023

Property Description: 3118 Two Story 3 Car Garage 4Bedrooms 3.5Bathrooms 2Living Rooms with Study Home Features: Study Beam Ceiling and Bookshelves, Upgraded Carpet Selection, Upgraded Tile Selections and Placement Designs, Cedar Overlay on Garage Doors, Hardwood Floors in Entry, Family Room, Dining Room and Study. Contact Sandy Luedke Ideal Real Estate Group 214-476-1423 Sandy@IdealRealEstateGroup.com Mention This Reference Code upon Inquiry: LHT00023

Last Updated: 10/20/2009 11:36:53 AM

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Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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Q	What is the fastest-growing state in the U.S.?
A	Nevada, for the 19th consecutive year, according to 2005 Census Bureau statistics.
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Sandy Luedke, REALTOR�, real estate agent and broker for Flower Mound, Carrollton, Lewisville and Denton County, Texas home listings, property and land for sale

Sandy Luedke
Ideal Real Estate Group
3419 Cross Timbers Rd. #104
Flower Mound, TX 75028
214-476-1423
Fax: 888-324-3001
sandy@idealrealestategroup.com
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