Raising Capital Gains Exclusion Could Help Seniors Pay for Long-Term Health CareKenneth R. Harney
it was possible for more than one title holder of the appropriate age to qualify for the exemption. For the home to qualify, the titleholder had to own and use the property as a principal residence for at least three out of the five years immediately prior to selling the house....
Thecapital gains tax ratesapply to all taxpayers, even seniors filing their federal income taxes onForm 1040-SR. How do I avoid capital gains tax when I sell my house? If your income is low enough, you may be able to pay low or no capital gains tax from the sale of your home. The...