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2. Tax breaks after 50 you might not know about - AOL

   www.aol.com/finance/tax-breaks-after-50-you...

   No, there’s no longer a capital gains exemption specifically for seniors. Taxpayers over 55 were once allowed a one-time $125,000 in capital gains exemption for selling their home, known as the ...

3. 6 Hidden Tax Breaks for Retirees - AOL

   www.aol.com/finance/6-hidden-tax-breaks-retirees...

   Getting older can unlock these retirement tax breaks.

4. States that tax Social Security benefits — including changes ...

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   Taxpayers over 55 were once allowed a one-time $125,000 in capital gains exemption for selling their home, known as the over-55 rule, but that rule was phased out in 1997.

5. 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]

6. Capital gains tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Capital_gains_tax_in_the...

   From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...

7. 20 Valuable Tax Breaks for Seniors - AOL

   www.aol.com/finance/20-valuable-tax-breaks...

   The so-called golden years can be financially challenging, but state and federal tax breaks can provide some silver linings. Find out what's available. 20 Valuable Tax Breaks for Seniors

8. 2 Ways Seniors Can Save Big on Their 2024 Taxes and Help ...

   www.aol.com/finance/2-ways-seniors-save-big...

   “This is especially valuable, because it reduces your adjusted gross income (AGI) rather than just providing a deduction, which can help minimize taxes on Social Security benefits and reduce ...

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

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

   Determine your capital gains tax rate. Your capital gains tax rate depends on your income, tax filing status, and how long you owned the property. For 2024, if you have owned your home for over a ...