Tax liability
🏡 Avoiding a massive tax hit when selling your home 🏠💸
Betty bought a house for $500K in 2022, but wanted to sell it for $550K in March. That $50K gain could bring a huge tax bill since it was her primary home for less than 2 years.
Waiting until May 2024 would mean $0 tax on the gain under section 121. Timing is everything! ⏳🏡
#TaxPlanning #RealEstateTips #CapitalGainsTax #Fina