What Are Tax Implications When Selling San Jose CA Real Estate?

In general, if you have a gain from the sale of real estate in San Jose CA, you may be able to qualify to exclude all or a part of that gain from your income.
 
How do I qualify?
  • The home must be your primary residence.
  • You must have owned and used the home as your primary residence for two out of the five years prior to the sale date.
  • You must have not excluded a gain from the sale of another home during the two-year period prior to the sale of this home.

How much of the gain can I exclude from my income?

  • You may be able to exclude up to $250,000 of the gain from your income (or up to $500,000 on a joint return).
  • If you can exclude all of the gain, you do not need to report the sale on your tax return.
  • If you have a gain that cannot be excluded, it is taxable and must be reported on Form 1040, Schedule D, Capital Gains and Losses.
  • If you have more than one home, you can exclude a gain only from the sale of your main home. You must pay tax on the gain from the sale of any other home. If you have two homes and live in both of them, your main home is the one you live in most of the time.

What if I received a first-time homebuyer credit when I purchased the San Jose CA real estate property?

  • If you received the first-time homebuyer credit and within 36 months of the date of purchase, the property is no longer used as your principal residence, you must repay the credit.
  • Repayment of the full credit is due with the income tax return for the year the home stopped being your principal residence, using Form 5405, First-Time Homebuyer Credit and Repayment of the Credit.
  • The full amount of the credit is shown as additional tax on that year’s tax return.

What if I have a loss when I sell San Jose CA real estate?

  • If you have a loss from the sale of San Jose CA real estate, you cannot deduct it.

This is NOT to be construed as legal or tax advice.  Please consult with your attorney and/or CPA for your situation to see if you qualify.

Trang Beuschlein specializes in Campbell and San Jose CA Real Estate sales but also services the rest of Santa Clara County, including Cupertino, Los Gatos, Milpitas, Mountain View, Palo Alto, Santa Clara, Saratoga and Sunnyvale.  Trang will be that San Jose CA Real Estate Agent who will look out for your best interests, provide you with first-class service, and negotiate the best deal for your home when buying or selling.  If you are interested in a list of homes for sale in San Jose CA or in any other community in Santa Clara County, please contact her at (408) 410-5628 or
CA DRE Broker License #01453711

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How To Protect Your San Jose CA Home When You Go On Vacation

How To Protect Your San Jose CA Home When You Go On Vacation

Before you go on vacation, make sure you take preventive measures to protect your San Jose CA home from burglary.  If you can ask someone to house sit, that would be the ideal situation.  Since that is not possible for most people, here are some tips to keep in mind so you can leave for your vacation with peace of mind:

    • Have a nearby family member or trusted friend/neighbor pick up your mail and newspapers instead of stopping the services.
    • Ask a nearby family member or trusted friend/neighbor to take out your garbage and recycle cans for garbage pickup day.
    • Install light timers in your home to give the illusion that someone is at home.  You can go to a home improvement store to purchase a light timer if you don’t have one already.
    • Turn off your home phone ringer or forward all your home phone calls.
    • If you don’t have regular lawn maintenance service, arrange to have your yard taken care of by a family member or trusted friend/neighbor.

Trang Beuschlein specializes in Campbell and San Jose CA Real Estate sales but also services the rest of Santa Clara County, including Cupertino, Los Gatos, Milpitas, Mountain View, Palo Alto, Santa Clara, Saratoga and Sunnyvale.  Trang will be that San Jose CA Real Estate Agent who will look out for your best interests, provide you with first-class service, and negotiate the best deal for your home whether it be in buying or selling.  If you are interested in a list of homes for sale in San Jose CA or a list of homes for sale in any other community in Santa Clara County, please contact her at (408) 410-5628 or

CA DRE Broker License #01453711

Copyright © 2011 Trang Beuschlein


Courtesy To Buyers When Selling Your Home In San Jose CA

Courtesy To Buyers When Selling Your Home In San Jose CA
 
There are different emotions involved when selling your home in San Jose CA.  You can be in the group of sellers that are excited to move into another home.  Or you can be in the other group that are sad to move out of your home in San Jose CA, either because you have invested so much sweat equity into it and/or because you have raised your kids in that home.

Because of all the emotions involved, you may either want to take as many things as possible that may remind you of the home in San Jose CA or you may just want to leave everything so you can start fresh in your new home.

Before you decide what you will take with you or what you will leave behind, put yourself in the buyers’ shoes.  

  • Would you as a buyer be okay if the sellers left all their home improvement excess or scrap materials behind for you to dispose of (i.e., pipes, old shower glass doors, 2×4 wood pieces)?  
  • Would you as a buyer be okay if the sellers took all the existing light fixtures and replaced it with just a socket and light bulb?

If you are unsure of what you can take with you or what you should leave behind, please consult with your real estate agent.  Remember the golden rule:  “Do unto others as you would have them do unto you.”

Trang Beuschlein has been helping those selling or buying San Jose CA Real Estate for years, providing exceptional service.  When you need an experienced San Jose CA Realtor who can sell your home for top dollars in the least amount of time or who can negotiate the best deal for your new home, you can count on Trang Beuschlein.  If you are looking for a service oriented San Jose Realtor or for a list of San Jose CA Homes for Sale, please call (408) 410-5628 or send an e-mail to

CA DRE Broker License #01453711

Copyright © 2011 Trang Beuschlein


Should I Sell My Home In San Jose Without A Real Estate Agent?

Should I Sell My Home In San Jose Without A Real Estate Agent?

Selling your home in San Jose is a big decision.  There are pros and cons for trying to sell the home on your own so you should evaluate whether or not the pros outweigh the cons for your situation.  Since every seller’s situation is unique, what works for one seller may not work for another seller.

Some things to ask yourself if you are thinking of selling your home in San Jose on your own include:

  • Do I know the San Jose real estate market enough to price my home right in order to maximize traffic and profit?
  • Will I be available to show the house whenever a prospective buyer contacts me?
  • Will I be able to effectively market my San Jose home in order to maximize traffic?
  • Am I comfortable interpreting a contract and its legal terms in order to protect myself?
  • Do I understand the escrow process?
  • If I am able to net more profit doing this myself, is the additional profit worth all the work involved or time taken off from work to do this?

Should you decide to hire a real estate agent to help sell your home in San Jose and are looking for someone who will look out for your best interests and provide you with first-class service, please call (408) 410-5628 or send an e-mail to

Trang Beuschlein specializes in selling Campbell and San Jose CA Real Estate but also sells real estate in the rest of Santa Clara County, including but not limited to Cupertino, Los Gatos, Milpitas, Mountain View, Palo Alto, Santa Clara, Saratoga and Sunnyvale.  When you need a San Jose CA Realtor who can sell your home for top dollars in the least amount of time and who can negotiate the best deal for your replacement home, you can count on Trang Beuschlein.  You can also contact Trang if you are interested in a list of San Jose Homes for Sale or a list of homes for sale in any other community in Santa Clara County

BKR Realty

CA DRE Broker License #01453711

Copyright © 2011 Trang Beuschlein