When it comes to selling your primary residence, there are important tax implications to consider. In general, if you sell your primary residence and make a profit, you may be subject to capital gains tax on that profit. However, there are certain exemptions and special circumstances that can affect your tax liability.

One of the most important exemptions is the primary residence exemption. This exemption allows you to exclude up to $250,000 in capital gains from the sale of your primary residence if you're a single taxpayer, or up to $500,000 if you're married filing jointly. To qualify for this exemption, you'll need to have owned and used the home as your primary residence for at least two of the five years prior to the sale.

It's also important to note that there are certain exclusions and adjustments that can affect your capital gains calculation. For example, if you've made significant improvements to your home, you may be able to adjust your basis (the original cost of the home plus any qualifying improvements) to reduce your capital gains liability.

Overall, navigating the rules surrounding capital gains on the sale of a primary residence can be complex, but with the right guidance and knowledge, you can make informed decisions and minimize your tax liability. Be sure to consult with a qualified tax professional to fully understand your options and obligations.

I hope this information is helpful as you consider selling your primary residence! Let me know if you have any additional questions or if there's anything else I can assist you with.

As always I am not a Accountant so please speak to you CPA

Michael Peppino Keller Williams Signature Properties 617-875-4352 

30 Park Avenue Hull MA 02045

Welcome to the beach ! This arts and crafts style home has so much to offer, and is located just steps to Nantasket Beach with an ideal location near the beginning of town. Enjoy the close proximity to the beach and smell of the ocean while you drink your coffee sitting on the front porch. This three bedroom two bath colonial has all of the original charm and woodwork. Some of the updates are newer gas heating & on demand gas hot water and newer windows. This is the home you have been waiting for, make it yours just in time to enjoy the most stunning autumn sunsets. Walk up attic for future expansion. 

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Directions to 30 Park Avenue Hull MA 02045

30 Park Avenue Hull MA 02045

$450,000

Michael Peppino | Cell  617-875-4352 | MichaelPeppino@Kw.com

🏠Hot New Listing 🔥

Braintree Thayer Academy Neighborhood

Open House Fri 4:00-5:00 

Open House Sat 1-2:30 & Sun 1-2:30 

65 Mount Vernon Street Braintree

$ 639,900

Michael Peppino Keller Williams Signature Properties

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65 Mt Vernon Street Braintree MA 02184

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SALE PENDING !!

Braintree Real Estate Market
Open houses were so busy both days.
Open house on Friday for 1 hour & Sunday for 2 hours and I had over 140 people through & ended up Multiple offers. Now is the time there are lots of buyers & not many homes for Sale.

Want to find out what your Braintree home is worth ? 

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65 Saint Claire Street Braintree MA 02184 Home for Sale 

MLS 73083648

One of Braintree's most desirable neighborhoods.This stately home offers 4,000+/- square feet of living space, 6 bedrooms & 3 full bathrooms.Beautiful new white kitchen w/ quartz countertops & top of the line stainless steel appliances. This layout was created to entertain with an open floor plan, and includes a formal living room w/ fire place, dining room plus family room with propane fueled stove. The oversized primary suite offers double walk-in closets and sitting area with a private balcony. Finished lower level includes a family room w/ pellet stone fireplace, two bedrooms, an office, full bath w/ steam shower. Lower level has potential for an au-pair suite or in-law. The exterior area features a private fenced in yard w/ stone patio, irrigation system with well water and a heated three car garage. This beautifully maintained home has so much to offer. Offered at $ 999,000

65 Saint Claire Street Braintree MA 02184

Open House 3/3 Friday 5-6 & 3/5 Sun 12-2

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MLS 73083648

Welcome to 65 Saint Claire Street located in one of Braintree's most desirable neighborhoods.This stately home offers 4,000+/- square feet of living space, 6 bedrooms & 3 full bathrooms.Beautiful new white kitchen w/ quartz countertops & top of the line stainless steel appliances. This layout was created to entertain with an open floor plan, and includes a formal living room w/ fire place, dining room plus family room with propane fueled stove. The oversized primary suite offers double walk-in closets and sitting area with a private balcony. Finished lower level includes a family room w/ pellet stone fireplace, two bedrooms, an office, full bath w/ steam shower. Lower level has potential for an au-pair suite or in-law. The exterior area features a private fenced in yard w/ stone patio, irrigation system with well water and a heated three car garage. This beautifully maintained home has so much to offer. Offered at $ 999,000

Open House March 4 Sat. & March 5 Sun. 12-2

Additional photos 65 Saint Claire Street Braintree MA
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Michael Peppino Real Estate

Real Estate Market Update Single Family Homes & Condo Sales A total of 8 homes sold in Pembroke, MA from Jan 27,2023 - Feb 27,2023 the median sale price in Pembroke was 542,500. Home sellers got 95 % Sales Price to the original Price. Inventory in Pembroke is extremely low, this makes it an amazing time for Sellers in Pembroke. Find out what your home is worth right now. Instant Property Valuation.