Consider the Fine Points When Calculating the Capital-Gains Tax on a House SaleBenny L. Kass
After 10 years in the home, you decide to move and to sell your current house. The home fetches a selling price of $500,000 and you still owe $200,000 on the mortgage. This means your capital gains from the sale of your home is $300,000 in profits. At tax time, you’re ...
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