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How to Change a Second Home to a Primary Home & Why The tax benefits of owning both a first and second home can be significant, with the IRS allowing taxpayers to deduct interest and property …
More Homeowners Paying Capital Gains Tax Rising home prices and low inventory levels during the pandemic accelerated more homeowners to pay capital gains tax above their exclusion.
Don’t GIFT Your House To Your Children
Surviving Spouse Sale Period Married couples who own a home as joint tenants with rights of survivorship, the surviving spouse inherits the home, along with their basis, and it does not trigger a taxable event. Unfortunately, …