Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

From time to time the IRS releases tips designed to help people with their taxes. Some of these are quite useful. Last week the agency released "Ten Tax Tips for Individuals Selling Their Home," (IRS Summertime Tax Tip 2011-15). As a real estate agent or broker, it is not your job to give home sellers tax advice. Indeed, it is advisable not to, since you could end up getting sued if you give wrong advice. Instead, refer sellers to this list of IRS tips. It's a good starting place for them to begin to understand this often complex area of tax law. You could even print it out and hand it to anyone who asks you about these issues. Here are the IRS's top 10 tax tips for home sellers: 1. In general, you are eligible to exclude the gain from income if you have owned and used you...