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$329,900 Mortgage Calculator
119 HEMLOCK AV
Warwick, RI / 02886
MLS# 1095792
Type: Single Family
Neighborhood: OLDE BUTTONWOODS
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 1,925 sq. ft.
Lot Size: 15,000 sq. ft.
Listed by: Norman TOBIN Real Estate Masters, Inc.
Office: 401-738-1130
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$1,250,000 Mortgage Calculator
285 STONE CHURCH RD
Tiverton, RI / 02878
MLS# 1100540
Type: Single Family
Neighborhood: STONE CHURCH
Beds: 5 Beds
Baths: 4 Full / 2 Half
Living Area: 6,718 sq. ft.
Lot Size: 944,381 sq. ft.
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$534,000 Mortgage Calculator
53 SANDY POINT FARM RD
Portsmouth, RI / 02871
MLS# 1077238
Type: Condo
Complex Name: Vanderbilt Stables
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,040 sq. ft.
Style Type: Town House
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$1,469,000 Mortgage Calculator
0 LOT 32 LENIHAN LANE
East Greenwich, RI / 02818
MLS# 1096364
Type: Single Family
Neighborhood: THE WOODS ON MIDDLE
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 5,000 sq. ft.
Lot Size: 428,325 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$129,900 Mortgage Calculator
8 LANE 1 .
Warwick, RI / 02888
MLS# 1113824
Type: Single Family
Neighborhood: GASPEE/SPRING GREEN
Beds: 4 Beds
Baths: 1 Full / 0 Half
Living Area: 1,155 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Anita Demers Independent Brks Realty Of RI
Office: 401-942-5600
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$197,000 Mortgage Calculator
25 MALCOLM ST
Cranston, RI / 02910
MLS# 1112362
Under Contract Status: Soliciting Back-up Offers
Type: Single Family
Neighborhood: SPECTACLE POND/ STADIUM
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,280 sq. ft.
Lot Size: 6,674 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$89,000 Mortgage Calculator
271 - J GREAT ISLAND RD
Narragansett, RI / 02882
MLS# 1093528
Type: Single Family
Neighborhood: GALILEE
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 525 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
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$679,000 Mortgage Calculator
24 LANTERN LANE
Barrington, RI / 02806
MLS# 1098822
Type: Single Family
Neighborhood: RUMSTICK VILLAGE
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,934 sq. ft.
Lot Size: 14,400 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$529,000 Mortgage Calculator
50 INDIAN RD
Little Compton, RI / 02837
MLS# 1092662
Type: Single Family
Neighborhood: INDIAN ROCK ACRES
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,438 sq. ft.
Lot Size: 16,000 sq. ft.
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$3,000,000 Mortgage Calculator
4 PASSPATAUG AV
Westerly, RI / 02891
MLS# 1088257
Type: Single Family
Neighborhood: WEEKAPAUG
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 1,608 sq. ft.
Lot Size: 104,923 sq. ft.
Listed by: Nancy Siciliano Ocean Front Homes
Office: 401-212-6262
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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®.