The Real Cost of Selling Your Home

By Carla Fried - 2013-06-12T20:51:17Z

Photograph by Mike Kemp

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The Tax Bill

It’s been a while since the capital gains hit on home sales has been a topic of conversation, but the market is heating up. If you’re single and have a gain larger than $250,000 ($500,000 for married couples), Uncle Sam is going to come a-knocking for a 15 percent capital gains tax. The $250,000/$500,000 capital-gains exclusion generally requires that you lived in the home for at least two of the five years prior to the sale.

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