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2. Capital gains tax on real estate and selling your home - AOL

   www.aol.com/finance/capital-gains-tax-real...

   If you have lived in a home as your primary residence for two out of the five years preceding the home’s sale, the IRS lets you exempt $250,000 in profit, or $500,000 if married and filing jointly.

3. Are Home Improvements Tax Deductible? - AOL

   www.aol.com/home-improvements-tax-deductible...

   For this example house sale, your adjusted cost basis becomes $400,000 after the improvements, and your profit is reduced to $250,000, all of which you can exclude from capital gains tax. Final ...

4. Are Property Taxes Deductible? - AOL

   www.aol.com/property-taxes-deductible-224345757.html

   The 2017 Tax Cuts and Jobs Act limits the deduction for state and local taxes, including property, income and sales taxes, to $10,000 per year. If you need to deduct more than $10,000 on your tax ...

5. Capital gains tax in the United States - Wikipedia

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

   However, taxpayers pay no tax on income covered by deductions: the standard deduction (for 2022: $12,950 for an individual return, $19,400 for heads of households, and $25,900 for a joint return), or more if the taxpayer has over that amount in itemized deductions. Amounts in excess of this are taxed at the rates in the above table.

6. Section 179 depreciation deduction - Wikipedia

   en.wikipedia.org/wiki/Section_179_depreciation...

   Under section 179(b)(1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount exceeding the $2,500,000 threshold, again as of ...

7. Internal Revenue Code section 1031 - Wikipedia

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

   Therefore, he arranges for a section 1031 exchange, and buys the new property, thus avoiding the capital gains tax at that time. In the aforementioned example, the investor would need to substantiate his or her investment intent to the IRS by showing an arm's length lease to the son and other students.

8. Avoid These Home Tax Deduction and Credit Mistakes - AOL

   www.aol.com/2013/01/31/avoid-these-home-tax...

   By G. M. Filisko As you calculate your tax returns, consider each home tax deduction and credit you are - and are not - entitled to. Running afoul of any of these 9 home-related tax mistakes ...

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

   www.aol.com/finance/states-that-tax-social...

   2025 tax year — 65% of Social Security benefits allowed as deduction. 2026 tax year — 100% ... a one-time $125,000 in capital gains exemption for selling their home, known as the over-55 rule ...