Are you thinking about listing a residential property for sale? Homeowners who are lucky enough to sell a property that has appreciated may have to pay capital gains tax. This payment can be significant but some individuals and couples may be able to potentially reduce their obligations to the IRS when making a profit from the sale of a home.
Understand capital gains tax before getting a home ready to go to market today.
Capital Gains Tax: The Basics
Not all homeowners who sell a home need to pay capital gains tax. Capital gains tax is generally obligatory for those homes or major assets sold which have appreciated,…