FRECI_18-4 - Lecture Preview Florida Real Estate Commission...

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1 Florida Real Estate Commission Course I Pre-Licensing Course for Sales Associates Session 18 – Lecture 4 Taxes Affecting Real Estate Copyright, 2005 2 Lecture Preview What will you learn from this lecture? Identify the differences between federal taxation on the sale of owner-occupied properties versus the sale of investment properties Copyright, 2005 3 Vocabulary Terms No vocabulary terms! Copyright, 2005 4 Federal Income Taxes on the Sale of Real Property Primary residence Investment (income- producing) property (Other types exist, but our focus is on these two types) Copyright, 2005 5 Principal Residence Mortgage interest deduction (primary or second home) Property tax deduction (primary or second home) IRA withdrawal exception (first-time homebuyers) Exclusion of gain on sale of principal residence Federal Income Tax Advantages Copyright, 2005 6 Primary and Second Residences Property taxes Interest on primary mortgage Interest on equity loan (up to $100,000 loan)
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FRECI_18-4 - Lecture Preview Florida Real Estate Commission...

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