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Re: Tax Free Money When You Never Sell
If you sell your primary residence in the U.S. you do not pay any capital gains taxes if your gain is under $250,000. For a married couple the gain can be up to $500,000. If you make more than half a million you'll pay some taxes.
http://www.associatedcontent.com/art..._the_sale.html You will still most likely be paying the 6% (+/- ) commissions when you use a Realtor to sell. Personally, I still think it's a better deal than paying fees, loads, commissions and taxes on income for other investments such as stocks and mutual funds (although I have a few of those in my IRA - gotta have some diversity :-)). Todd Smith |
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