Capital gains taxes are already non-existent for a vast majority of people selling a house they’ve been using as their primary residence. This is just another gift to the super wealthy.
Pretty sure talking about flipping , depends on state you get capital gain tax if you own the home for less than x amount years. This will make houses sky rocket.
Yep, if you are selling your home, single people don’t pay tax on the first $250,000 profit, and married people get $500,000. You can also deduct any money you put into home improvements or anything else that increased the value. 99.999% of taxpayers already don’t pay any capital gains taxes when they sell.
Capital gains taxes are already non-existent for a vast majority of people selling a house they’ve been using as their primary residence. This is just another gift to the super wealthy.
Pretty sure talking about flipping , depends on state you get capital gain tax if you own the home for less than x amount years. This will make houses sky rocket.
Yep, if you are selling your home, single people don’t pay tax on the first $250,000 profit, and married people get $500,000. You can also deduct any money you put into home improvements or anything else that increased the value. 99.999% of taxpayers already don’t pay any capital gains taxes when they sell.