As the New Year starts and and the superbowl approaches so to does tax season. If you bought or sold your home last year you may have some questions about capital gains and real estate. Below is an excerpt from and link to an article on Nerd Wallet that talks about this very subject. Please click below to check it out. Before you do just know I strongly encourage you to seek professional tax advice. Articles like this and sites like Nerd Wallet are great but I have learned that every situation is different and I feel it is wise to seek good, qualified tax and investment assistance to ensure you are making the most informed decisions you can.
Sure, it feels great to get a high price for the sale of your home, but watch out: The IRS may want a piece of the action. That’s because capital gains on real estate are taxable sometimes. Here’s how you can minimize or even avoid a tax bite on the sale of your house….CLICK HERE FOR MORE.