Selling your home to downsize can make your retirement more financially stable, but if you have a profit on the sale you ...

Get a clear explanation of capital gains tax on inherited homes, including the role of basis, step-up, and exclusions.

Because the couple has owned and lived in the home for at least two out of the last five years, long-term capital gains tax rates will apply. The tax bill for the sale alone would be $50,000 at 15 ...

When you sell a primary residence, the IRS allows you to exclude from your capital gains taxes the first $250,000 ... your cost basis would be $525,000, as the home cost you $500,000 and the ...

And based on the poll, Common Wealth say building more social housing and raising capital gains tax for second homes and buy-to-lets would enjoy broad public support. Mathew Lawrence, Common ...

The Liberal government's changes to the capital gains tax are now being challenged in ... make from selling an asset like a stock or a second home. The new rules increased the inclusion rate ...

Dear Liz: I have sold my family home recently after almost 50 years ... How do I document the improvements for the capital gains tax calculation? Answer: As you probably know, you can exclude ...

The release of a new, updated tax ... the second, Period 2: Dispositions between June 25 and December 31, 2024. The two discrete periods seem to be left over from the 2024 federal budget announcement ...

is available for computing all alternative long-term capital gains tax on the sale of immovable property acquired prior to 23 July 2024. Also Read: Rent, home loan, capital gains, losses ...