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Showing posts from December, 2017

2017 Tax Reform and how it affects Home Ownership

Although the final tax reform bill is far from perfect and the results are mixed, it is significantly better for homeowners than previous versions. That’s thanks to the efforts you made. REALTORS® generated over 300,000 emails and telephone calls to members of Congress over two Calls for Action and held countless in-person meetings with legislators, all of which helped shape the final product. All of this grass-roots support truly helped NAR as we worked with members of the House-Senate conference committee to help educate them on how to improve the final bill. We saved the exclusion for capital gains on the sale of a home and protected the mortgage interest deduction for primary and secondary homes. Many agents and brokers who earn income from personal services will also see some significant new benefits in their business. Last-minute changes to the bill include the following improvements: Capital gains exclusion. In a huge win for current and prospective homeowners, current law is l…