Hodgkisl t1_iy4ogwx wrote
Reply to comment by Northstar1989 in This is the first house 3D-printed from bio-based materials - The new technology could come in at a key moment. by speckz
Capital gains does not apply up to 500k if gain for a married couple to primary residence sales if a replacement home is purchased.
Edit: looks like you no longer must buy a new home, any primary residence sale is eligible if you lived in it for 2 years.
Northstar1989 t1_iy4ox3a wrote
If there's a difference in prices, due to moving to a cheaper area?
Hodgkisl t1_iy4pr0u wrote
Please see my edit, you no longer must buy a new home for primary residence sale. I believe you used to have to buy another.
Also fun is with investment property you can 1031 exchange and avoid any amount of capital gains indefinitely.
Northstar1989 t1_iy6z92p wrote
That's.... problematic.
Clearly we need to fix those tax laws so millionaires with 5 investment properties can't avoid taxes forever
Hodgkisl t1_iy7q18z wrote
The 1031 exchange has helped many become rich, its a huge distortion in the real estate market.
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