@[email protected] to Lemmy [email protected] • 4 months agoOwing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury youlemmy.worldimagemessage-square302fedilinkarrow-up1702arrow-down182
arrow-up1620arrow-down1imageOwing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury youlemmy.world@[email protected] to Lemmy [email protected] • 4 months agomessage-square302fedilink
minus-square@[email protected]linkfedilink0•4 months agoNo. Capital gains taxes are not taken from your residence. …does anyone in this thread actually own a residence or at least conduct a basic level of research before forming strong opinions?
minus-square@[email protected]linkfedilink1•4 months agoCapital gains absolutely apply to primary home sales. You’re just allowed to exclude the first $250k of gains, or $500k if married filing joint. https://www.irs.gov/taxtopics/tc701
No. Capital gains taxes are not taken from your residence.
…does anyone in this thread actually own a residence or at least conduct a basic level of research before forming strong opinions?
Capital gains absolutely apply to primary home sales. You’re just allowed to exclude the first $250k of gains, or $500k if married filing joint.
https://www.irs.gov/taxtopics/tc701