If you owned and lived in the home for two of the five years before the sale, then up to $250,000 of profit is tax-free. If you are married and file a joint return, the tax-free amount doubles to $500,000. The law lets you "exclude" this much otherwise taxable profit from your taxable income. (the key factor is that on their federal tax returns, t...
Read MoreHere is a list from the Tampa Housing authority of the minimum standards required for a property to be approved in their program. This checklist is very similar to other counties in Florida, and if you can cross off all items on this list you can be confident your home should be able to pass most inspections.
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