Peggy Lindsey Blog

Major Tax Issues Every Seller of Real Estate Needs to Know

Posted by Peggy Lindsey on January 29, 2016 in  Taxes
Increase in the exclusion from capital gains tax on the sale of principle residence from $125,000 in capital gains to $500,000 for filing joint taxpayers ($250,000 exclusion of profit for single taxpayer). This exclusion can occur every 2 years.  The repetitive ability is a great opportunity to buy and sell a principle residence and either move up or buy down.  There is no age restriction on who is eligible for this exemption.   First-time and repeat h... read more
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