Will you Owe Tax on Profits from Selling Your Personal Residence?
RogerRossmeisl
SEPTEMBER 27, 2021
Be aware of the tax implications if you’re selling your home or you sold one in 2021. You may owe capital gains tax and net investment income tax (NIIT). Gain exclusion If you’re selling your principal residence, and meet certain requirements, you can exclude from tax up to $250,000 ($500,000 for joint filers) of gain.
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