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About THE CLEM GROUP - Information about THE CLEM GROUP of Springfield, Greene County, Christian County and Webster County, Missouri Testimonials - Read what THE CLEM GROUP's clients are saying about the real estate marketing and services provided. Quick Response Guarantee - A quick response to your email request for more Missouri home buying & property selling information is guaranteed by THE CLEM GROUP. Privacy Guarantee - This Springfield, Greene County, Christian County and Webster County real estate web site will respect your privacy, guaranteed by THE CLEM GROUP. No Obligation Guarantee - THE CLEM GROUP's real estate help by email is free & without obligation for Springfield, Greene County, Christian County and Webster County home owners in Missouri. For Real Estate Agents - Let THE CLEM GROUP help you with your professional real estate broker and agent needs in the Springfield, Greene County, Christian County and Webster County area. About NUMBER1EXPERTS™ - NUMBER1EXPERTS™ are top real estate professionals, find out more. Contact Information - How to contact THE CLEM GROUP. Service Agreements Go to Main Sitemap - Main sitemap sections include Find Springfield, Greene County, Christian County and Webster County Homes, For Home Buyers, For Home Sellers, Springfield, Greene County, Christian County and Webster County Information, Real Estate Resources, and About THE CLEM GROUP. 
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Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
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| Q |
Where is the world's largest stained glass window?
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| A |
The American Airlines terminal at the Kennedy International Airport in New York City has a stained-glass window that is 300 feet long and 23 feet high. |
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THE CLEM GROUP
Coldwell Banker Vanguard
1334 East Republic Rd
Springfield, MO 65804
417-887-6664
Fax: 417-447-5779
Toll Free: 1-800-299-5554
MyRealtor@StaceyClem.com
When you choose Stacey Clem as your Realtor, you can rest assured that she will help you with every aspect of stress-free buying and selling your home or property. Call Stacey now, at 417-887-6664 or toll free at 1-800-299-5554 and let her do what she does best while you focus on your life!   
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