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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. Sold Your Home for Profit? You Might Have to Pay Capital ...

    www.aol.com/finance/sold-home-profit-might-pay...

    Capital gains tax is not only applicable to stock investors -- if you're one of the many who sold their home for a major profit this year, you might owe the IRS. See: 32 Insider Tips for Buying and...

  4. I'm Selling My House to Net $640k to Downsize for ... - AOL

    www.aol.com/im-selling-house-netting-640k...

    Selling your longtime home and downsizing in retirement is a common practice for people entering their golden years. While profits from a home sale are considered capital gains, the IRS typically ...

  5. Capital gains tax in the United States - Wikipedia

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

    Structured sales, such as the self-directed installment sale, are sales that use a third party, in the style of an annuity. They permit sellers to defer recognition of gains on the sale of a business or real estate to the tax year in which the proceeds are received. [61] Fees and complications should be weighed against the tax savings. [62]

  6. Capital loss - Wikipedia

    en.wikipedia.org/wiki/Capital_loss

    Special wash sale rules apply if the same or substantially similar asset is bought, acquired, or optioned within 30 days before or after the sale. [4] According to 26 U.S.C. §121, a capital loss on the sale of a primary residence is generally tax-exempt. [citation needed]. IRC 165(c) is a stronger source that limits the loss on the sale of a ...

  7. Internal Revenue Code section 1031 - Wikipedia

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

    Taxpayers who hold real estate as inventory, or who purchase real estate for re-sale, are considered "dealers". These properties are not eligible for Section 1031 treatment. However, if a taxpayer is a dealer and also an investor, he or she can use Section 1031 on qualifying like properties.

  8. 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 ...

  9. Taxpayer Relief Act of 1997 - Wikipedia

    en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

    The top marginal long term capital gains rate fell from 28% to 20%, subject to certain phase-in rules. The 15% bracket was lowered to 10%. The 15% bracket was lowered to 10%. 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.