Get Prepared to Pay Capital Gains TaxPosted by Gary Ashton on
What is capital gains tax and does every homeowner need to pay it? The capital gains tax may amount to a large payment and it does not become important unless a homeowner wants to sell a home which has appreciated in value.
The IRS wants their share of the pie. When a homeowner has sold their property, some of the profit may have to paid in the form of a capital gains tax. With a few adjustments, homeowners may be able to pay less in capital gains than otherwise expected. What should those looking to sell a home, in Belle Meade or elsewhere, know about capital gains?
Learn more about capital gains tax and exclusions today.
What Are Capital Gains?
A primary home is considered a capital asset. When this asset appreciates and is sold at a…
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