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Saturday 9:00AM - 10:00AM  Making Money Sense Show with Larry Rosenthal 

Each week Larry discusses topics current to the economy as well as a handful of financial planning subjects.  

Below are some of the topics Larry will be highlighting during the upcoming shows.

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Saturday 9:00AM - 10:00AM  Making Money Sense Show with Larry Rosenthal  SiriusXM Family Talk, 131

Each week Larry discusses topics current to the economy as well as a handful of financial planning subjects.  

Below are some of the topics Larry will be highlighting during the upcoming shows.  

Previous Shows

Radio Show December 8, 2018 - Tax Rules When Selling Your Home

How the gains from the sale of a primary residence are taxed has changed in recent years. If you have recently sold your home, or are considering doing so, you may want to be aware of these new rules.

Home Sale

If you owned and lived in your home for two of the last five years before the sale, then up to $250,000 of profit may be exempt from federal income taxes. If you are married and file a joint return, then it doubles to $500,000.¹

To qualify for this exemption, you cannot have excluded the gain on the sale of another home within two years to this sale. Please consult a professional with tax expertise regarding your individual situation.²

This profit would be excluded from your taxable income. In fact, the sale may not need to be reported unless you receive a Form 1099-S or do not meet the above requirements.

If you sold your home at a loss, unfortunately, you can’t deduct the loss.

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