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Publication 523, Selling Your Home

• Important Reminders
• 1. Main Home
• 2. Rules for Sales in 2001
  • How To Figure Gain or Loss
  • Basis
    • Cost As Basis
    • Basis Other Than Cost
    • Adjusted Basis

  • Excluding the Gain
    • Maximum Amount of Exclusion
      • Reduced Maximum Exclusion

    • More Than One Home Sold During 2-Year Period

  • Ownership and Use Tests
    • Married Persons
    • Business Use or Rental of Home

  • Special Situations
  • Reporting the Gain
    • Illustrated Example

  • Real Estate and Transfer Taxes

• 3. Rules for Sales Before May 7, 1997
  • Rules That Provided for Postponing Gain
    • Replacement Period
      • People Outside the United States
      • Members of the Armed Forces

    • Old Home
    • New Home
      • How To Figure Cost of New Home

    • Certain Sales by Married Persons

  • What To Report Now
    • Example

• 4. Recapture of Federal Subsidy
• 5. How To Get Tax Help

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Index

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A

• Abandonment
• Address, change of
• Adjusted basis
• Amount realized

B

• Basis

C

• Condemned property
• Condemned property
• Construction
• Cooperative apartment
• Cooperative apartment
• Cost as basis

D

• Depreciation

E

• Example, illustrated
• Exclusion of gain
• Expatriates

F

• Fair market value
• Federal subsidy
• Form, 1099-C
• Form, 1099-S
• Form, 2119
• Form, 4797
• Form, 8828

G

• Gain on sale
• Gift

H

• How to report

I

• Improvements
• Individual taxpayer identification number
• Individuals with disability
• Inheritance
• Installment sale

L

• Loss on sale
• Loss on sale

M

• Main home, Defined
• Married individuals, Basis of home received from spouse
• Married individuals, Community property
• Married individuals, Exclusion of gain
• Married individuals, Jointly owned home
• Married individuals, Main home after divorce
• Married individuals, Surviving spouse, basis of home
• Married individuals, Transfer of home to spouse
• Mortgage credit certificates
• Mortgage, seller-financed

N

• New home

O

• Ownership and use tests

P

• Payment by employer
• Points
• Points

R

• Recordkeeping
• Rental property
• Repairs
• Repossession

S

• Sales before May 7, 1997, Postponing gain
• Sales before May 7, 1997, What to report now
• Sales to related persons, exception
• Selling expenses
• Selling price
• Separate returns
• Settlement fees
• Statute of limitations
• Suggestions

T

• Taxes, Real estate
• Taxes, Real estate
• Taxes, Transfer
• Taxpayer Advocate
• Trade
• Trading homes
• Transfer to/from spouse
• Transfer to/from spouse
• TTY/TDD information

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