Capital gains tax is a tax on profits from asset sales. Long-term capital gains tax rates are 0%, 15% or 20%. Short-term rates equal ordinary income tax rates.

When you sell a primary residence, the IRS allows you to exclude from your capital gains taxes the first $250,000 of profits ...

Selling a second home can come with an unexpected tax burden. It doesn't matter if it's an inherited ramshackle cabin, a luxury vacation retreat, or even a rental investment, the IRS treats the sale ...

In one corner: property taxes, rising steadily thanks to rising assessments, voter-approved bonds, and shifting local budgets. In the other: the capital gains tax, a hit that can surprise even ...

Last week, Rep. Marjorie Taylor Greene (R-Ga.) introduced the No Tax on Home Sales Act, a proposal to eliminate the federal capital gains tax on the sale of primary residences. “Families who work hard ...

Given that your home is likely your largest asset, the prospect of turning a profit when you go to sell it is understandably exciting. That is, until you remember the reality of taxes. There is both ...

WASHINGTON (Reuters) -U.S. President Donald Trump said on Tuesday his administration is considering removing taxes on capital gains on home sales. "If the Fed would lower the rates, we wouldn't even ...

Savvy real estate investors like Nicole Shirvani are using 1031 exchanges to defer capital gains taxes when selling an investment property.