How Taxes Can Affect Your Home Sale

Portrait of a young family standing in front of house, holding a Home For Sale sign with arms raised enthusiastically.

If you purchase a home and its value increases, selling it within a year means the IRS will treat your profit as short-term capital gains, taxed as ordinary income. Depending on your tax bracket, the rate may reach 37%. When capital gains become tax-free If you have owned the home for at least two years […]