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$369,900 Mortgage Calculator
14 PROVIDENT PL
Coventry, RI / 02816
MLS# 1068468
Type: Single Family
Neighborhood: PHILLIPS HILL
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 3,004 sq. ft.
Lot Size: 40,511 sq. ft.
Listed by: Peter ALMONTE RE/MAX Metro
Office: 401-736-6100
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$189,900 Mortgage Calculator
101 GOVERNORS HILL
West Warwick, RI / 02893
MLS# 1072425
Type: Condo
Complex Name: GOVERNORS HILL
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 2,196 sq. ft.
Style Type: Town House
Listed by: Norman TOBIN Real Estate Masters, Inc.
Office: 401-738-1130
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$799,995 Mortgage Calculator
636 PENDLETON HILL RD
No Stonington, CT / 06359
MLS# 1069346
Type: Single Family
Neighborhood: RURAL
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 3,077 sq. ft.
Lot Size: 562,360 sq. ft.
Listed by: Liz Viering Stonington Real Estate Company
Office: 860-535-4047
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$189,000 Mortgage Calculator
15 - 17 REYNOLDS AV
North Providence, RI / 02911
MLS# 1063192
Type: Multi-Family
Neighborhood: MINERAL SPRING
# of Units: 2
Total Beds: | Unit1(3), Unit2(3), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 3,360 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$224,900 Mortgage Calculator
48 CAPITOL ST
Johnston, RI / 02919
MLS# 1076008
Type: Single Family
Neighborhood: SIMMONSVILLE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,101 sq. ft.
Lot Size: 8,700 sq. ft.
Listed by: The Stone Alliance Coldwell Banker Res. Brokerage
Office: 401-739-9500
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$459,900 Mortgage Calculator
10 EASTWARD DR
Lincoln, RI / 02865
MLS# 1075164
Type: Single Family
Neighborhood: LIMEROCK
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,970 sq. ft.
Lot Size: 87,425 sq. ft.
Listed by: Joan Dion Reliable Realty Group LLC
Office: 401-723-3300
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$144,900 Mortgage Calculator
89 WESTWOOD AV
Cranston, RI / 02905
MLS# 1069239
Type: Multi-Family
Neighborhood: EDGEWOOD
# of Units: 2
Total Beds: | Unit1(2), Unit2(2), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 1,961 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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$239,000 Mortgage Calculator
39 HENRY ST
Cranston, RI / 02905
MLS# 1072182
Type: Single Family
Neighborhood: EDGEWOOD
Beds: 5 Beds
Baths: 4 Full / 0 Half
Living Area: 3,537 sq. ft.
Lot Size: 6,047 sq. ft.
Listed by: Jo-Ann Molinaro RE/MAX Professionals
Office: 401-884-6050
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$449,900 Mortgage Calculator
18 ROSEWOOD DR
Lincoln, RI / 02865
MLS# 1074295
Type: Single Family
Neighborhood: JENCKES HILL ESTATES
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,688 sq. ft.
Lot Size: 40,032 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$133,000 Mortgage Calculator
1800 DOUGLAS AV
North Providence, RI / 02904
MLS# 1080912 NEW
Type: Condo
Complex Name: COVE AT WENSCOTT
Beds: 1 Beds
Baths: 1 Full / 0 Half
Living Area: 800 sq. ft.
Style Type: One Level
Listed by: Debbie Grimaldi RE/MAX 1st Choice
Office: 401-943-6111
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Understanding Capital Gains

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain

In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.

2. Total adjustments: _______________________

To calculate this, add the following:

  • Cost of the purchase — including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.
  • Cost of sale — including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.
  • Cost of improvements — including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.


3. Your home’s adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.

4. Your capital gain:  _______________________

Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.

A Special Real Estate Exemption for Capital Gains

Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

  • You have lived in the home as your principal residence for two out of the last five years.
  • You have not sold or exchanged another home during the two years preceding the sale.
  • You meet what the IRS calls “unforeseen circumstances,” such as job loss, divorce, or family medical emergency.

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

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