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Updated about 3 years ago on . Most recent reply

Mike Lewis's profile image
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Mike Lewis
  • Rental Property Investor
  • from Austin, TX
  • Member since Jul 13, 2021
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Mike Lewis
  • Rental Property Investor
  • from Austin, TX
  • Member since Jul 13, 2021
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Mike Lewis
  • Rental Property Investor
  • Austin, TX
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General Real Estate Investing

I made $300k 2 months ago on a property, how to avoid taxes?

Mike Lewis
  • Rental Property Investor
  • Austin, TX
Posted

This is Texas. I lived in a condo for 5 years before it just sold a few months ago. How do I pay as little taxes as possible? I also have a W2 job.

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Jay Hinrichs
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  • from Lake Oswego OR Summerlin, NV
  • Member since Jan 29, 2014
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Jay Hinrichs
  • #1 All Forums Contributor
  • Lender
  • from Lake Oswego OR Summerlin, NV
  • Member since Jan 29, 2014
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,959
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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simple as an owner occupant you get 250k tax free if your single and 500k if your married..  the absolute best tax advantage we have in the US.. and why folks should own homes to live in especially in markets with robust appreciation. 
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