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Tip 12. Handle Taxes

The new law says that if you are a married couple you can exclude up to $500,000 of gain on the sale of your home and if you are single you can exclude up to $250,000 of gain. Don't forget tax-deductible expenses, such as marketing costs, closing costs, and moving costs. The closing agent is required to provide you and the IRS with a completed Form 1099S, Statement for Recipients of Proceeds from Real Estate Transactions.

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