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How to sell your primary residence tax-free
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Do you know how to avoid paying capital gains tax on your primary residence?
Even if you turned it into a rental?
Simple. You just need to follow the 2 out of the last 5 rule.
If you have lived in your primary residence 2 out of the last 5 years, you can exclude up to 250k if single or 500k if married capital gains. That’s massive savings.
Here’s something that most cpa’s don’t know. If you are military, the 2 out of 5 years rule is extended to 2 out of the last 15 years.
#realestateinvesting #montgomeryalabama #propertymanagement #realtors #landlord #tenant #taxstrategies
Even if you turned it into a rental?
Simple. You just need to follow the 2 out of the last 5 rule.
If you have lived in your primary residence 2 out of the last 5 years, you can exclude up to 250k if single or 500k if married capital gains. That’s massive savings.
Here’s something that most cpa’s don’t know. If you are military, the 2 out of 5 years rule is extended to 2 out of the last 15 years.
#realestateinvesting #montgomeryalabama #propertymanagement #realtors #landlord #tenant #taxstrategies
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