7 months agohi_nosey_ceo
This is a good breakdown especially the distinction between primary vs. investment property. A lot of people understand the exclusion and 1031 exchange part, but don’t realize those aren’t the only ways to manage capital gains. There are other strategies depending on how the asset and ownership are structured that can change how and when that tax hits. That’s usually the part people don’t learn until later.
10 months agon_syte2.0
My this seems so different than what happened with my fathers residence, I ended up with with over 12k in taxes for capital gains taxes
a year agorandolphmitchell6
Talk about holding property for 24 months to avoid capital gains, up to 250k single, 500k married.
a year agos.o.p.4.life
What if you inherit a house? Say you inherit a house but decide to sell it for whatever reason. How does the tax work then? (I wouldn't sell it, Im just curious as to how the taxes work in that scenario)
a year agocarolynszabo
Living in my marital home for 16 years but divorced for the past 2 years. Hoping to sell soon in Florida and have significant gains. How does that work since we are both owners, he doesn’t live here
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