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Posted by: jordan11 7 months, 3 weeks ago

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jordan117 months, 3 weeks ago

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The President’s administration tax policy will also look into raising capital gains rate and dividend rates to 20% and 28%.>>>>>

It will probably go through before my house sells in WA state. And once again I'll be asked to bail out this mess, when I did nothing to cause it. Just saved my money, didn't go into debt, didn't buy a sub prime mortgage, didn't prey on anyone to get filthy rich. Minded my own business conservatively, and my reward will be paying more on my gain from selling my home, while my savings has eroded to be worthless for long term gain. Whoopee.

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  simonsez7 months, 3 weeks ago
  
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  Depending on your age, I think 2 or 3 hundred thousand profit is allowed on the sale of a house. It may be double that if you're married. At some point, all profit is tax free.
  
  Somebody out there knows the rules ... fill us in.
  
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    bigG7 months, 3 weeks ago
    
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    As long as one has occupied the home for two of the last five years, they are entiltled to a $ 250K capital gains exclusion if single, and $ 500K if married. So, if you lived in a home for two years, then leased it for two and one-half years, you would qualify for the exclusion from capital gains.
    One would have to make a huge gain to be affected by the Capital Gains Tax.
    This came from the Tax Relief Act of 1997. I am not sure whether it was indexed or not.
    
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  VocalOp7 months, 3 weeks ago
  
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  God never promised you a life without problems. When you start to feel sorry for and about yourself, I suggest you "conservatively" volunteer to help someone who is in actual need. You'll be changed forever. Amen?
  
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