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Updated about 7 years ago on .
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Cap Gains on primary residence changing... 2018 tax plan
When I typed in "2018 tax plan" into the BP forums, I was surprised that I couldn't find anyone talking about the Capital Gains rule to selling your primary residence. Currently you must live in your home 2 of the past 5 years in order to avoid paying capital gains and it is now moving to 5 years in the past 8 years. (sec. 1402 of the GOP tax bill)
I would have thought that it would be all over the forums since it greatly affects the house hacking strategies, and a lot of people who are planning to sell next season.
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That did not make it into the final bill. You can thank the National Association of Realtors for our lobbying efforts on this item.
- Russell Brazil
- [email protected]
- (301) 893-4635
- Podcast Guest on Show #192
