After divorce, what taxes will I owe on this home sale?

Q. I got divorced a year ago after being separated for more than five years. My ex-wife has been living in the property for the last six years and I lived elsewhere. The gain after paying off the mortgage and closing costs is $77,000. As part of the divorce decree she gets half the money. Do I have to pay capital gains on the whole capital gain or half?

— Divorced

A. To answer your question it is important to understand three basic things about your situation.

The first thing to understand is what your actual capital gain is on the sale. Next is what part of this gain will be taxed by the IRS, and finally, you need to understand what your divorce settlement says and how that will impact your set of circumstances.

Your capital gain is not what you keep in your pocket after the sale of

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Strict rules keep business out of New Mexico loan program

SANTA FE, N.M. (AP) – Only about $20 million of a $400 million loan program for New Mexico small businesses hit by the pandemic has been approved to send out since the program began in August, according to the state agency running the program.

“We created the program, believing that about 5,000 applications would be processed. And it’s a much smaller volume than that,” said New Mexico Finance Authority CEO Marquita Russel at a presentation to state legislators Tuesday.

Low participation has saved the agency money on contractors, Russel said.

But it’s also a sign that the legislation isn’t reaching many small businesses. Fewer than 900 businesses have applied for loans under the program, which range from $500 to $75,000.

That’s despite ongoing pain in the

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Mortgage rates set another record low, sparking refinances

An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio.

Ty Wright | Bloomberg | Getty Images

Mortgage rates moved even lower last week after setting multiple record lows in recent months, spurring more borrowers to call their lenders and apply for a refinance, but homebuyers were quite as motivated. 

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of up to $510,400 slipped to 3.01% from 3.05%, while points decreased to 0.37 from 0.52 for loans with a 20% down payment. 

In response, refinance application volume, which is most sensitive to weekly rate moves, rose 8% for the week and was 50% higher than a year ago, according to the Mortgage Bankers Association’s seasonally adjusted index. That is the highest refinance volume since mid-August.

Applications for a mortgage to purchase a home fell 2% for the

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Dominic Calvert-Lewin: From non-league loan to England call-up

I never stopped believing – Calvert-Lewin on England call-up

No-one has scored more Premier League headers than Dominic Calvert-Lewin since the start of last season, but his leap to prominence is no surprise to the man who signed him for Everton.

Former Toffees defender and now academy director David Unsworth says he is still “amazed” that he managed to buy the forward from Sheffield United for a “cheeky” bid of a reported £1.5m in 2016.

He first spotted Calvert-Lewin as a 15-year-old in the gym when he was head of the Blades’ academy, and quickly realised he was “a talent who stuck out”.

“What first caught my eye was his gym work,” Unsworth tells BBC Sport. “We’d be there in the evenings and his power from a standing jump was the best I’ve ever seen. He was doing a lot of squats, and jumps at an incredible height onto these

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Dividend Finance Announces New Lending Platform & Broader Suite of Loan Products

Dividend Finance Inc. (“Dividend”), a leading FinTech point-of-sale lender to solar and home improvement contractors, is announcing the launch of a new technology platform. In addition to a new solar + home improvement partner portal, Dividend is offering its solar contractors an array of new products and enhancements including:

  • Dividend Lite – a new single-page URL application which makes qualifying and signing up a customer faster and easier;

  • New solar loan terms including a 25-year 2.99% APR, 20-year 1.49% APR, 15-year 1.49% APR, and 10-year 0.99% APR*;

  • More flexible credit criteria and funding requirements; and

  • Same-day approvals and project funding

Dividend’s New Partner Portal
With solar and home improvement in one portal, Dividend is making it easier than ever for contractors to provide a fast and informative sales experience to their customers. Dividend’s new portal offers a faster credit application process, the ability for users to update and resend documents,

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Half of households which deferred home loans have restarted repayments

Half of all households who cut or temporarily halted their mortgage repayments at the height of the Covid-19 economic crisis are back to making full repayments.

During the national lockdown in March and April, banks agreed to let households whose incomes had reduced to either temporarily stop, or reduce repayments on their home loans, a move that was commonly referred to as taking a repayments ‘holiday’.

At its peak in June around 7 per cent of all home loans were on deferred or reduced payment plans with their banks, according to data from credit reporting bureau Centrix.

But Mark Rowley, Centrix chief operating officer, said that by the end of September, the number of mortgages on deferral had halved from its June peak to 3.5 per cent of all home loans.

READ MORE:
* Bank profits cut nearly in half by Covid-19 economic crisis
* ‘Staggering’ number of households behind

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Budget POLL: Is Boris Johnson right with new pledge to make buying a home easier? VOTE | UK | News

During a rousing speech to the Conservative Party’s online conference, Prime Minister Boris Johnson promised to ”fix our broken housing market” and help young people onto the housing ladder. Mr Johnson said his Tory government would reduce deposit sizes to 5 percent for home buyers as part of a drive to increase the rates of home ownership, especially among the under-40s.

Express.co.uk is asking you is Boris Johnson right to make buying a home easier with this pledge?

The Prime Minister also vowed to “transform the sclerotic planning system” and make it “faster and easier to build beautiful new homes without destroying the green belt or desecrating our countryside”.

Mr Johnson said: “These reforms will take time and they are not enough on their own.

“We need now to take forward one of the key proposals of our manifesto of 2019: giving young, first-time buyers the chance to take out

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KBRA Releases Report Assigning Rating to the Narragansett Bay Commission Bucklin Point Resiliency Improvements Project WIFIA Loan

On September 30, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA with a Stable Outlook to the Narragansett Bay Commission Bucklin Point Resiliency Improvements Project WIFIA Loan. At the same time, KBRA affirmed the long-term rating of AA with a Stable Outlook on the Combined Sewer Overflow (CSO) Phase III Facilities WIFIA Loan.

Click here to view the report. To access ratings and relevant documents, click here.

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies)

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First Home Loan Deposit Scheme extension could be just the start

Modern Suburban House

New homes are the key beneficiary of the nation’s latest first-home buyer stimulus.


Victorian first-home buyers can make an up to $850,000 first step onto the property ladder under an extended and revised key housing support program.

On Saturday, Housing Minister Michael Sukkar announced an additional 10,000 First Home Loan Deposit Scheme places, and raised the cap in Victoria from $600,000 to $850,000.

But the extra 10,000 places nationwide are reserved for those buying off the plan, or a newly built home.

RELATED: Display home visits booking out after being cleared for inspection

First Home Loan Deposit Scheme warning for buyers considering it

Lockdown costs Melbourne buyers $25k HomeBuilder grant chance

The scheme allows first-home buyers to purchase a home on a deposit as low as 5 per cent without paying lenders’ mortgage insurance, as the government goes guarantor on their loan.

Building industry groups have lauded the move, but

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Freeport Mayor’s View: City seeks home improvements grant – News – Rockford Register Star

As we rapidly approach the end of the construction season, the City is quickly working to wrap up a variety of infrastructure projects. We had a busy year executing infrastructure projects and approving additional work that will be completed over the next year and a half.

In the past few months alone, the City completed the $3 million Float Avenue infrastructure project, repaved Sunset Drive, Hurd Street, Boggess Street, as well as portions of Ottawa Avenue and Winneshiek Street. Anyone who has driven over Locust Avenue between Lincoln Boulevard and Pleasant Street will appreciate the much-needed repairs that were conducted in the past week. We are also in the middle of milling the street and overlaying Highland Drive in its entirety and are planning on road repair on portions of South Demeter Drive before the weather, and leaf pickup season, prohibits us from further infrastructure improvement projects.

In addition to

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