The constitution guarantees no taxation without representation. Just saying...
(media.greatawakening.win)
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I thought you can avoid capital gains on a personal residence if you lived in it for at least 2 years.
If you make more than $250k/$500k married then you have to pay tax
Is it a newer tax within just the last few years? I do recall having to add up a bunch of home improvements to get under a certain amount of capital gains to avoid taxation. So I think you are right. What a f'ed up thing that is. Sold my home in 2019 to downsize after retirement.
I don’t think so. I think it’s been that way a long time but I’m not a tax professional.
You are right, you are able to deduct the cost of improvements from the sale before paying tax.
This. I sold well. I paid the piper.
Yup. Up to 500k..