We know how nerve-wracking selling your home can be. It’s both a financially and emotionally complex process, and we’ve helped many people make sure it goes as smoothly as possible. This checklist includes many issues to review along the way. Some items to consider include:

• Preparing yourself for the sale of your home and having a plan on what to do with the proceeds afterwards.

• Figuring out your initial cost basis and understanding whether any adjustments to your cost basis need to be made.

• Determining the extent of any gain/loss, and whether you may qualify for any exclusion of capital gains on the sale of your home.

• Understanding how the sale of your home may affect other tax planning goals.

We are happy to help you in your journey of selling and buying a new home and understanding the impact on your financial plan. If you are in need of professional resources during this process, please let us know. At Allos, we stay focused on the investment management and financial planning, but have bountiful resources for referring out many services or needs that fall outside our offering of a fee-only, client centric business promise. We are happy to make introductions to people in our network we have vetted and believe will give you unbiased, expert service without misleading you or selling you something that is not appropriate for your situation. Let our network work for you!

Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this content, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for you or your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Allos Investment Advisors®, LLC.

The content of this letter does not constitute a tax or legal opinion. Always consult with a competent professional service provider for advice on tax or legal matters specific to your situation. To the extent that a reader has any questions regarding the applicability of any specific issue discussed in this content, he/she is encouraged to consult with the professional advisor of his/her choosing.

Published for the blog on October 7, 2024 by Allos Investment Advisors®, LLC.