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  2. Will I Owe Taxes if I Sell My Home? - AOL

    www.aol.com/owe-taxes-sell-home-115700974.html

    What is the capital gains tax exclusion? The tax break for homeowners is called the capital gains tax exclusion. It’s a federal benefit that allows you to exclude up to $250,000 of home sale ...

  3. Selling a rental property? Here are the tax consequences - AOL

    www.aol.com/news/selling-rental-property-tax...

    You’re not eligible for the $250,000-per-person home sale profit exclusion, and in addition to paying capital gains tax you also face a depreciation recapture tax of 25%.

  4. Schedule D: How to report your capital gains (or losses) to ...

    www.aol.com/finance/schedule-d-report-capital...

    As long as you meet some basic residency requirements and your home-sale profit is $250,000 or less ($500,000 for married-filing-jointly home sellers), it’s not taxable and you don’t have to ...

  5. Home mortgage interest deduction - Wikipedia

    en.wikipedia.org/wiki/Home_mortgage_interest...

    In the United States, there are additional tax incentives for home ownership. For example, taxpayers are allowed an exclusion of up to $250,000 ($500,000 for a married couple filing jointly) of capital gains on the sale of real property if the owner used it as primary residence for two of the five years before the date of sale.

  6. Capital gains tax - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax

    The gain realized on the sale of a principal residence is not taxable. A gain realized on the sale of other real estate held at least 30 years, however, is not taxable, although this will become subject to 15.5% social security taxes as of 2012. (There is a sliding scale for non-principal residence property owned for between 22 and 30 years.)

  7. Taxpayer Relief Act of 1997 - Wikipedia

    en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

    The act permanently exempted from taxation the capital gains on the sale of a personal residence of up to $500,000 for married couples filing jointly and $250,000 for singles. This exemption applies to residences the taxpayer(s) lived in for at least two years over the last five. Taxpayers can only claim the exemption once every two years. [4]

  8. Internal Revenue Code section 1031 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    To qualify for Section 1031 of the Internal Revenue Code, the properties exchanged must be held for productive use in a trade or business, or for investment.Prior to 2018, stocks, bonds, and other properties were listed as expressly excluded by Section 1031, although securitized properties were not excluded.

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