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To: Keyhopper
The way I understand it the price you bought at plus $250k, after that you pay capital gains.

$500K for married couples. The seller pays long term capital gains. The rate varies on income. The rates are 0, 15 and 20%. I wouldn't think many single people would be eligble for the 0 rate. It is probably a bit easier for married couple to pull it off if they own the house outright or have low mortgage payments..

131 posted on 04/19/2024 3:33:33 AM PDT by EVO X ( )
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To: EVO X

I’m stuck in that boat. Bought my house at 70k back in 88 and now it’s worth $500k. Anything more that 320 I’m gonna have to pay tax on. I wouldn’t mind do much of they spent it wisely.


144 posted on 04/19/2024 6:33:09 AM PDT by Keyhopper (Indians had bad immigration laws)
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