• Thinking of Selling Your Home? – Understanding the Home Gain Exclusion

    Thinking of Selling Your Home? – Understanding the Home Gain Exclusion

    Thinking of Selling Your Home? – Understanding the Home Gain Exclusion Often a tax surprise occurs when selling your home. The possibility of capital gains tax should be understood before selling your residence. Here is a summary of the rules. One of the largest tax breaks available to most individuals is the ability to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. Making the assumption that this gain exclusion will always keep you safe from tax can be a big mistake. Here is what you need to know. The rule’s basics As

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