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Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from DOTTIE AND COMPANY, a proven Hattiesburg, Oak Grove and Petal, Mississippi NUMBER1EXPERT™ Top Selling real estate agent. Find Hattiesburg, Oak Grove and Petal Homes - Find Hattiesburg, Oak Grove and Petal, Mississippi real estate listings & homes for sale provided by DOTTIE AND COMPANY, your local expert real estate agent. For Home Buyers - Get home buying information, the latest listings, mortgage informaiton, expert advice, and much more from DOTTIE AND COMPANY, a proven Hattiesburg, Oak Grove and Petal, Mississippi NUMBER1EXPERT™ Top Selling real estate agent. For Home Sellers - Get home selling information, fsbo information, expert advice, find out what your home and other homes in your neighborhood are selling for, and much more from DOTTIE AND COMPANY, a proven Hattiesburg, Oak Grove and Petal, Mississippi NUMBER1EXPERT™ Top Selling real estate agent. Hattiesburg, Oak Grove and Petal Information - Find local information on Hattiesburg, Oak Grove and Petal, Mississippi including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by DOTTIE AND COMPANY, a proven NUMBER1EXPERT™ Top Selling real estate agent. Real Estate Resources - Find real estate related resources including real estate news, tips, dictionary, trivia, mortgage calculators and information, local real estate related services, and much more from DOTTIE AND COMPANY, a proven Hattiesburg, Oak Grove and Petal, Mississippi NUMBER1EXPERT™ Top Selling real estate agent. About DOTTIE AND COMPANY - Information about DOTTIE AND COMPANY including testimonials, guarantees, credentials, and contact information. Learn why DOTTIE AND COMPANY is a proven Hattiesburg, Oak Grove and Petal, Mississippi NUMBER1EXPERT™ Top Selling real estate agent. 
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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 was the great land boom (1919) in which investors paid up to $25,000 for lots not yet dredged up from the ocean?
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| A |
The great Florida land boom brought hundreds of investors to the state after Carl Fisher founded Miami Beach in 1919. |
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