How the Exempt Capital Gains Tax on Your Primary Residence Works

I was having a conversation with a good friend and client the other day about selling his primary residence. He and his wife had become empty nesters and their home is just way too big for them right now. They didn’t need the extra space and wanted to sell and buy something more manageable. I let them know that they’d be in for quite a capital gains tax, but there is an exemption that could rise in value up to $500,000.

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Les Walden
Les Walden Real Estate Team
10700 Clemson Blvd
Seneca, SC 29678
(864) 985-1234
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https://www.leswaldenrealestate.com