Capital Gains Taxes On Primary Residence?

If you sell your primary residence, you may be able to exclude part of your gain from capital gains tax.
1.) Single filers may exclude up to $250,000 of gain
2.) Married couples filing jointly may exclude up to $500,000 of gain

The general rule: you must have owned and lived in the home as your primary residence for at least 2 of the last 5 years before the sale.

That means if your home has appreciated significantly, this exclusion could potentially save you thousands in taxes.

As always, there are details and exceptions, so be sure to review your situation with a CPA and Financial Professional before you sell.

Good planning is not just about growing wealth. It is also about keeping more of what you have built

Видео Capital Gains Taxes On Primary Residence? канала Weston DePriest