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$124,900 Mortgage Calculator
402 WOODHAVEN CT
Cranston, RI / 02920
MLS# 1072084
Type: Condo
Complex Name: WOODHAVEN COURT
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,008 sq. ft.
Style Type: Town House
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$1,099,000 Mortgage Calculator
27 NORTH NIANTIC DR
Charlestown, RI / 02813
MLS# 1060994
Type: Single Family
Neighborhood: SOUTH SHORES
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,722 sq. ft.
Lot Size: 87,120 sq. ft.
Listed by: Cindy Curtis Cindy Curtis Real Estate
Office: 401-364-7489
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$329,000 Mortgage Calculator
55 OLD PINE RD
Narragansett, RI / 02882
MLS# 1068511
Type: Single Family
Neighborhood: ENVINE ESTATES
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 1,944 sq. ft.
Lot Size: 12,632 sq. ft.
Listed by: Betty Barrett Bay Realty, LTD.
Office: 401-789-3003
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$229,500 Mortgage Calculator
14 BROOKWOOD RD
Cranston, RI / 02910
MLS# 1072100
Type: Single Family
Neighborhood: FOREST HILLS
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,065 sq. ft.
Lot Size: 4,500 sq. ft.
Listed by: Jan Parrillo Parrillo Realty Group, LLC
Office: 401-228-6660
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$319,900 Mortgage Calculator
20 HAMILTON GATE CT
North Kingstown, RI / 02852
MLS# 1056385
Type: Condo
Complex Name: Hamilton Gate
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,524 sq. ft.
Style Type: One Level
Listed by: Donna Sabitoni Fieldstone Properties, Inc.
Office: 401-295-0300
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$129,900 Mortgage Calculator
56 CHESTERFIELD AV
Warwick, RI / 02889
MLS# 1070085
Type: Single Family
Neighborhood: CONIMICUT
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 890 sq. ft.
Lot Size: 9,000 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$350,000 Mortgage Calculator
0 TOWER HILL RD
Cumberland, RI / 02864
MLS# 1008191
Type: Vacant Land
Neighborhood: TOWER HILL
Lot Frontage: 1,742 ft.
Lot Size: 2,265,120 sq. ft.
Lot Type: Residential, Agriculture
Listed by: Debra Jobin RE/MAX River's Edge - Bristol
Office: 401-254-1776
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$369,000 Mortgage Calculator
957 MATUNUCK BEACH RD
South Kingstown, RI / 02879
MLS# 1065203
Type: Condo
Complex Name: MATUNUCK BREAKERS
Beds: 1 Beds
Baths: 1 Full / 0 Half
Living Area: 408 sq. ft.
Style Type: One Level
Listed by: The Weller Team RE/MAX Central
Office: 401-823-7600
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$900,000 Mortgage Calculator
415 POPPASQUASH RD
Bristol, RI / 02809
MLS# 1066754
Type: Single Family
Neighborhood: POPPASQUASH POINT
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 2,606 sq. ft.
Lot Size: 71,438 sq. ft.
Listed by: Dory Skemp Coldwell Banker Res. Brokerage
Office: 401-247-0202
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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
Click here for AAA Southern New England for the mortgage that is right for you!
 
Click here for the Law Officies of George M. Cappello, Ltd.
Click here for Rhode Island Housing. Working together to bring you home. The Entry Only Listing Service is a licensed real estate company in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
Go to AAA Southern New England Click here to lock in a low fixed-rate mortgage with Residential Mortgage Services.

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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