People who “flee” California and ditch their half-million dollar bungalow want to stash the money from their old home in the purchase of their new home.
They want to avoid capital gains taxes.
“People who “flee” California and ditch their half-million dollar bungalow want to stash the money from their old home in the purchase of their new home.
They want to avoid capital gains taxes.”
There are no capital gain taxes when you sell your principal residence unless you make over $550k in profit.