Advertisement
HomeCollectionsPrimary Residence
IN THE NEWS

Primary Residence

FEATURED ARTICLES
BUSINESS
November 24, 2002
Dear Mr. Azrael: I am retired and a current resident of another state where I live at my parents' home. My primary residence is in the state of Maryland. My daughter and granddaughter live at my Maryland residence. When I sell my primary residence in Maryland, can I qualify for the tax exemption for the gain on the sale of this home? J. Blair Severn Dear J. Blair: The IRS allows individual taxpayers to exclude a gain on the sale of their main home. To qualify for the exclusion, a taxpayer must meet both an ownership test and a use test.
ARTICLES BY DATE
SPORTS
By Katherine Dunn and The Baltimore Sun | August 4, 2014
St. Frances defensive end Rahshaun Smith has been cleared by Maryland Interscholastic Athletic Association officials to play football this fall after transferring during the last school year from Calvert Hall. Smith, rated the No. 15 prospect in the Class of 2016 last week by the recruiting website rivals.com, has moved his primary residence by more than 30 miles which allows him to play without sitting out for a year, said Lee Dove, executive director of the MIAA. League rules require a varsity athlete who played the same sport at another MIAA school to sit out a year with two exceptions - that he moves more than 30 miles or his former school discontinues the sport.
Advertisement
NEWS
August 4, 2011
City Councilwoman Belinda Conaway now admits she signed papers stating that her primary residence is in Baltimore County ("Councilwoman Conaway drops $21 million libel suit," Aug. 2). If she does not live there, as she claims, why did she apply for a mortgage as a primary residence? If she lives in the county, why is she registered to vote in the city, and why does she hold office there? Is it no wonder there is so much crime in the city when city public officials think they can buck the system whenever they feel like it?
BUSINESS
By Natalie Sherman, The Baltimore Sun | May 8, 2014
The state has started a new tax credit program designed to help make home ownership more affordable for working families, Housing and Community Development Secretary Raymond A. Skinner said Thursday. The Maryland HomeCredit program allows eligible buyers to claim a federal tax credit worth 25 percent of interest paid on a mortgage -- up to $2,000 annually -- for the life of a loan, as long as the property remains a primary residence.   To qualify, a buyer's income and the price of the property must fall below certain limits, which vary by location.
NEWS
By MADISON PARK | October 19, 2007
Aberdeen officials explained yesterday their decision to disqualify a candidate for City Council who has sued to get on the ballot. The residency controversy centers on whether Steven C. Johnson has lived in the city for the past two years, a requirement for council candidates. In his filing papers, Johnson listed an Aberdeen address that city officials argue is not his primary residence. During a hearing Wednesday, a Harford County circuit judge gave the city and Johnson until today to discuss a resolution while indicating that an injunction to postpone the Nov. 6 election is possible.
ENTERTAINMENT
By Laura Vozzella | June 21, 2011
If City Councilwoman Belinda Conaway really thinks she's going to get $21 million out of Examiner columnist Adam Meister, she'd better hurry. Looks like he's about to spend a fortune. An invite he's posted on Facebook reads: "Adam Meister's $21 million 4th of July Party. " Conaway is suing Meister and Examiner newspapers over an online column he wrote claiming that she lives in Baltimore County instead of the city she represents. He linked to public records indicating that Conaway not only owns a house in the county, but claims it as her primary residence for tax purposes.
SPORTS
By Katherine Dunn and The Baltimore Sun | August 4, 2014
St. Frances defensive end Rahshaun Smith has been cleared by Maryland Interscholastic Athletic Association officials to play football this fall after transferring during the last school year from Calvert Hall. Smith, rated the No. 15 prospect in the Class of 2016 last week by the recruiting website rivals.com, has moved his primary residence by more than 30 miles which allows him to play without sitting out for a year, said Lee Dove, executive director of the MIAA. League rules require a varsity athlete who played the same sport at another MIAA school to sit out a year with two exceptions - that he moves more than 30 miles or his former school discontinues the sport.
NEWS
By Robert Nusgart and Robert Nusgart,SUN STAFF | October 8, 2000
When Marty and Jackie Anson started to seriously think about purchasing a vacation home, they debated the sand and sun of Ocean City vs. the snow and scenery of Deep Creek Lake. "We've always toyed with the idea of a second home," said Jackie Anson, whose primary residence is on the water at Bodkin Creek in Pasadena. "With the ocean, my husband would want bayside. I would want oceanside." Because they already lived on the water, it didn't make sense to them to buy a similar home. "So, we decided to look at winter homes," she said.
BUSINESS
By Natalie Sherman, The Baltimore Sun | May 8, 2014
The state has started a new tax credit program designed to help make home ownership more affordable for working families, Housing and Community Development Secretary Raymond A. Skinner said Thursday. The Maryland HomeCredit program allows eligible buyers to claim a federal tax credit worth 25 percent of interest paid on a mortgage -- up to $2,000 annually -- for the life of a loan, as long as the property remains a primary residence.   To qualify, a buyer's income and the price of the property must fall below certain limits, which vary by location.
BUSINESS
By ILYCE GLINK | September 21, 2007
We are in our early 60s. We have owned and managed rental properties in an area north of Seattle for the past 20 years. We are now ready to sell off our rentals and retire. Since the real estate market is slow in our area, I suppose this is bad timing on our part. If we hold on to these for a few more years, do you think the housing market will come back? What about that book that said the housing market was going to crash forever in 2007? Thanks. We'd love your thoughts on this. Here's the short answer to your question: Yes, I think the market will come back.
NEWS
August 4, 2011
City Councilwoman Belinda Conaway now admits she signed papers stating that her primary residence is in Baltimore County ("Councilwoman Conaway drops $21 million libel suit," Aug. 2). If she does not live there, as she claims, why did she apply for a mortgage as a primary residence? If she lives in the county, why is she registered to vote in the city, and why does she hold office there? Is it no wonder there is so much crime in the city when city public officials think they can buck the system whenever they feel like it?
ENTERTAINMENT
By Laura Vozzella | June 21, 2011
If City Councilwoman Belinda Conaway really thinks she's going to get $21 million out of Examiner columnist Adam Meister, she'd better hurry. Looks like he's about to spend a fortune. An invite he's posted on Facebook reads: "Adam Meister's $21 million 4th of July Party. " Conaway is suing Meister and Examiner newspapers over an online column he wrote claiming that she lives in Baltimore County instead of the city she represents. He linked to public records indicating that Conaway not only owns a house in the county, but claims it as her primary residence for tax purposes.
NEWS
By Annie Linskey, The Baltimore Sun | September 9, 2010
Baltimore state Sen. George W. Della Jr. acknowledged Thursday that he received an undeserved tax break by wrongly applying the state's Homestead Property Tax Credit to both his Federal Hill townhouse and a home in Baltimore County. Della, a Democrat, said he has contacted state and county officials and requested that he and his wife be billed for the $1,184 in back taxes he owes from the Baltimore County property. The seven-term senator represents all of Baltimore's waterfront neighborhoods and is locked in one of the tightest contests of his political career against a young, well-funded opponent, Bill Ferguson, who first noted the inappropriate tax breaks in a recent campaign mailing.
BUSINESS
By Eileen Ambrose | eileen.ambrose@baltsun.com | April 4, 2010
H omebuyer tax credits on paper are simple, but as it turns out, our lives aren't. Over the past year, the homebuyer credits generated more questions from readers than any topic on our Consuming Interests blog. Readers were unsure whether they qualified for a credit, often because of messy family situations or messy finances. Congress complicated matters when it expanded the first-time buyer credit that's worth up to $8,000 for those who haven't owned a house in the previous three years.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,jamie.smith.hopkins@baltsun.com | October 18, 2009
By now you probably all know what a short sale is: a deal in which the lender allows a home to change hands for less than the balance on the mortgage, forgiving most or all of the difference. For months, real estate agents have said there are far more would-be short sales than closed deals. The lenders reject the offers, or they take so long to consider that buyers give up and move on. Thus I was curious to hear what Olivia Surge, who negotiates short sales on behalf of homeowners at the Law Offices of G. Russell Donaldson in Crofton, is seeing now. Compared with 2007, when nine months could go by before lenders would even look at an offer, "things have gotten much, much better," she said.
NEWS
By MADISON PARK | October 19, 2007
Aberdeen officials explained yesterday their decision to disqualify a candidate for City Council who has sued to get on the ballot. The residency controversy centers on whether Steven C. Johnson has lived in the city for the past two years, a requirement for council candidates. In his filing papers, Johnson listed an Aberdeen address that city officials argue is not his primary residence. During a hearing Wednesday, a Harford County circuit judge gave the city and Johnson until today to discuss a resolution while indicating that an injunction to postpone the Nov. 6 election is possible.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,jamie.smith.hopkins@baltsun.com | October 18, 2009
By now you probably all know what a short sale is: a deal in which the lender allows a home to change hands for less than the balance on the mortgage, forgiving most or all of the difference. For months, real estate agents have said there are far more would-be short sales than closed deals. The lenders reject the offers, or they take so long to consider that buyers give up and move on. Thus I was curious to hear what Olivia Surge, who negotiates short sales on behalf of homeowners at the Law Offices of G. Russell Donaldson in Crofton, is seeing now. Compared with 2007, when nine months could go by before lenders would even look at an offer, "things have gotten much, much better," she said.
BUSINESS
By Eileen Ambrose | eileen.ambrose@baltsun.com | April 4, 2010
H omebuyer tax credits on paper are simple, but as it turns out, our lives aren't. Over the past year, the homebuyer credits generated more questions from readers than any topic on our Consuming Interests blog. Readers were unsure whether they qualified for a credit, often because of messy family situations or messy finances. Congress complicated matters when it expanded the first-time buyer credit that's worth up to $8,000 for those who haven't owned a house in the previous three years.
BUSINESS
By ILYCE GLINK | September 21, 2007
We are in our early 60s. We have owned and managed rental properties in an area north of Seattle for the past 20 years. We are now ready to sell off our rentals and retire. Since the real estate market is slow in our area, I suppose this is bad timing on our part. If we hold on to these for a few more years, do you think the housing market will come back? What about that book that said the housing market was going to crash forever in 2007? Thanks. We'd love your thoughts on this. Here's the short answer to your question: Yes, I think the market will come back.
BUSINESS
November 24, 2002
Dear Mr. Azrael: I am retired and a current resident of another state where I live at my parents' home. My primary residence is in the state of Maryland. My daughter and granddaughter live at my Maryland residence. When I sell my primary residence in Maryland, can I qualify for the tax exemption for the gain on the sale of this home? J. Blair Severn Dear J. Blair: The IRS allows individual taxpayers to exclude a gain on the sale of their main home. To qualify for the exclusion, a taxpayer must meet both an ownership test and a use test.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.