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Updated about 7 years ago,

User Stats

71
Posts
32
Votes
Christy Philippoff
  • Ocean Springs, MS
32
Votes |
71
Posts

Advise on the new Trump laws

Christy Philippoff
  • Ocean Springs, MS
Posted

Does anyone know if the new ruling will include the change from 2 years to 5 years of homesteading a property to avoid capital gains?  Is there a "grace" period?  If it does pass, what would be some of my options?  We have lived in our current home for 3 years. We plan to make around 65K on the sell of our home over the purchase price.  We have completely renovated the home while living in it.  We've put about 20 K into the home, but we don't save receipts because we were planning on being it in for at least 10 years.   We now have decided to build our "dream" home on some property we already own.  What advise do y'all have for this situation? 

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