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$133,000 Mortgage Calculator
1800 DOUGLAS AV
North Providence, RI / 02904
MLS# 1080912
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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$234,900 Mortgage Calculator
175 HOFFMAN AV
Cranston, RI / 02920
MLS# 1066160
Type: Condo
Complex Name: EAST BEL AIR
Beds: 2 Beds
Baths: 3 Full / 0 Half
Living Area: 1,978 sq. ft.
Style Type: One Level, High Rise
Listed by: Marilyn DePetrillo RE/MAX Professionals
Office: 401-884-6050
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$965,000 Mortgage Calculator
2 CORR WY
East Greenwich, RI / 02818
MLS# 1073189
Type: Single Family
Neighborhood: WESTWOOD FARMS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,355 sq. ft.
Lot Size: 100,624 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$429,000 Mortgage Calculator
2 KELLIE ANN CT
Seekonk, MA / 02771
MLS# 1057290
Type: Single Family
Neighborhood: ORCHARD ESTATES
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,000 sq. ft.
Lot Size: 15,500 sq. ft.
Listed by: Alyson Roslonek The Mello Group, Inc.
Office: 508-640-0505
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$459,000 Mortgage Calculator
32 HAMILTON FARM RD
North Kingstown, RI / 02852
MLS# 1059731
Type: Condo
Complex Name: HAMILTON FARM CONDOS
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,740 sq. ft.
Style Type: One Level, Other
Listed by: Donna Sabitoni Fieldstone Properties, Inc.
Office: 401-295-0300
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$2,695,000 Mortgage Calculator
318 RUMSTICK RD
Barrington, RI / 02806
MLS# 1060625
Type: Single Family
Neighborhood: RUMSTICK POINT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,740 sq. ft.
Lot Size: 309,157 sq. ft.
Listed by: Christina Ardente Residential Properties, Ltd.
Office: 401-245-9600
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$1,200,000 Mortgage Calculator
151 LATEN KNIGHT RD
Cranston, RI / 02921
MLS# 1068419
Type: Single Family
Neighborhood: WESTERN CRANSTON
Beds: 8 Beds
Baths: 6 Full / 1 Half
Living Area: 4,300 sq. ft.
Lot Size: 435,600 sq. ft.
Listed by: Jason Corsini Northeast Realty Asssociates
Office: 401-935-8082
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$374,000 Mortgage Calculator
441 SNAKE HILL RD
Glocester, RI / 02857
MLS# 1073584
Type: Single Family
Neighborhood: NORTH SCITUATE
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,772 sq. ft.
Lot Size: 83,199 sq. ft.
Listed by: Richard Lemos RE/MAX Preferred
Office: 401-353-2200
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$4,876,250 Mortgage Calculator
26 LEES WHARF ST
Newport, RI / 02840
MLS# 1071301
Type: Condo
Complex Name: Newport Harbor Marina
Beds: 0 Beds
Baths: 0 Full / 0 Half
Living Area: 0 sq. ft.
Style Type: Slip
Listed by: Gordon King WILLIAM RAVEIS CHAPMAN ENSTONE
Office: 401-846-3800
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$64,900 Mortgage Calculator
0 BUENA VISTA DR
Johnston, RI / 02920
MLS# 1073708
Type: Vacant Land
Neighborhood: ATWOOD
Lot Frontage: 0 ft.
Lot Size: 0 sq. ft.
Lot Type: Residential
Listed by: Bob Medeiros Watermark Realty, LLC
Office: 401-921-5300
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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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