Ask Bob Selling Your Home What are the tax implications of selling my home?
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What are the tax implications of selling my home?

If you have lived in your home for at least two of the last five years, you can exclude up to $250,000 of capital gains ($500,000 for married couples filing jointly) from your income. Gains above that are taxed as capital gains. Consult a tax professional for your specific situation.

Why It Matters

Understanding the tax rules helps you estimate your net proceeds from the sale and plan your next move accordingly.

Related Questions

What improvements add the most value before selling? Should I paint before selling my home? What is staging and do I need it? How do I prepare my home for showings? How do I price my home correctly?

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