Under the new tax law (effective 2018) the first $250,000 from a home purchase are tax free for single individuals and up to $500,000 for those married and filing jointly. (Shout out to extra savings for the loving couples out there.)
Don't sell just to take advantage of the current tax law. BUT if you have been thinking about selling, it would be a good idea to make that move before the end of the year.
Every year, the government makes decisions about fiscal matters, such as taxation. This means the current tax free benefit might not be there next year.
I'm ready to work for you and get you the profits you deserve. Let's grow your wealth.
Source: Snider, Susanne. US News & World Report, "What Are the Tax Benefits of Buying a House?," Ocr 17, 2018.
Jessica Bordelon, Agent,