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Capital Gains Tax on the Sale of the HouseYou can now exclude up to $250,000 of the gain on the sale of your house -- $500,000 for a married couple. And you'll be able to exclude that much again if you sell another house after another two years. You (or your divorced spouse pursuant to a divorce agreement or order) must have lived in the house for at least two of the last five years. You can read more about this on the page about taxes. What all this means is that for the vast majority of us, capital gains on the sale of our house is just no longer an issue. Good. |
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