What Is Capital Gains Tax | Spyglass Realty
Posted by Ryan Rodenbeck on
Once an individual buys a home, their tax circumstances can dramatically change. With homeownership comes property taxes, school taxes (if applicable), and capital gains taxes when the property is sold. The latter tax should be planned for long before a property goes on the real estate market. Not familiar with capital gains tax? Here's a rundown of what all homeowners should know.
For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.
What Is a Capital Gains Tax?
If a homeowner sells their home for more money than they paid for it, they might be required to pay capital gains taxes on the difference. Whether this tax is applicable largely depends upon…
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