Capital

Capital Gains on Home Sale and Forex Trading: A Comprehensive Guide

5 min read

Capital gains on the sale of a home can represent a significant financial windfall, however, they often come with certain tax implications. Depending on your situation, you may qualify for a primary residence sale exclusion, which allows you to exclude from taxation all or part of the gain made in the sale of a home you’ve lived in for at least two out of the past five years; however, you are still responsible for any associated capital gains taxes. The tax rate on home sale capital gains varies, based both on your marginal tax rate and the holding period of the property. With proper planning, you can minimize your liability and maximize the gains associated with the sale of your home.

Capital

Capital Gains on Home Sale: An Overview of Forex Trading

5 min read

Capital gains on home sales are a topic of ongoing interest for those considering a move, as they can represent a potential tax liability for the seller. If you’re moving and are considering selling your home, understanding capital gains is essential to making an informed decision about your housing options. Generally, if the home is a primary residence (meaning you lived in it for two of the last five years), you may be able to subtract the cost of any renovations you’ve made, as well as selling costs, from any profits and avoid any taxes. When you don’t meet the two-year requirement, you will be taxed on your profits. Fortunately, however, some exemptions to capital gains on home sales exist for certain individuals and circumstances which are good to consider when looking to move.