From time to time the IRS releases tips designed to help people with their taxes. Some of these are quite useful.
Last week the agency released "Ten Tax Tips for Individuals Selling Their Home," (IRS Summertime Tax Tip 2011-15).
As a real estate agent, it is not advisable to give home sellers tax advice for legal reasons.
So instead, I would like to refer you to this list of IRS tips. It's a good starting place for you to begin to understand this often complex area of tax law.
You could even print it out and hand it to anyone who asks you about these issues.
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