Denver, Castle Rock and Highlands Ranch Weather Get Denver, Castle Rock and Highlands Ranch Weather Reports Here Being located in Colorado, the Denver, Castle Rock and Highlands Ranch area is assured of four full and beautiful seasons with all the varied activities possible at different times of the year. There is boating and hiking in the summer and skiing and snowmen in the winter. Spring is a lively, vigorous time of renewal and our autumns are so beautiful that people from all over take vacations at that time so they can take tours of the countryside and view the colorful foliage. What a place! Feel free to peek at our local forecast via the web site featured on this page. Request our Free Denver, Castle Rock and Highlands Ranch area Relocation Package. It's packed full of useful and important information. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out...  It's my job to know EVERYTHING about Denver, Castle Rock and Highlands Ranch! Ask me any question. Or request a FREE information package. There's no obligation, and I promise to get back to you quickly...
First Time Buyers >Your Principal Residence
The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.
Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.
Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.
Consult your tax advisor for advice about your particular circumstance.
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| Q |
What area in the United States has the highest per capita income?
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| A |
The New York/New Jersey/Long Island area has a per capita income of over $750,000, according to the most current available U.S. census data. |
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