@Mickey7 to Lemmy Shitpost • 3 days agoOwing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury youimagemessage-square327arrow-up1753arrow-down189
arrow-up1664arrow-down1imageOwing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you@Mickey7 to Lemmy Shitpost • 3 days agomessage-square327
minus-square@[email protected]linkfedilink-1•1 day 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@Cryophilialink2•1 day 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