@[email protected] to Lemmy [email protected] • 12 days agoOwing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury youlemmy.worldimagemessage-square274fedilinkarrow-up1699arrow-down180
arrow-up1619arrow-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] • 12 days agomessage-square274fedilink
minus-square@[email protected]linkfedilink0•11 days 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•10 days 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