The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools

URL:  http://boards.fool.com/there-is-a-500k-exclusion-on-net-capital-gains-30186008.aspx

Subject:  Re: advice about renting vs owning Date:  8/4/2012  1:10 AM
Author:  Donna405 Number:  17775 of 19222

There is a $500K exclusion on net capital gains for husband and wife relative to the home they own and live in. They must live in the home for 2 out of the last 5 years at time of sale. So, if the coop is worth $350K, I am sure their capital gains will not exceed $500K, unless, of course, the market has REALLY improved.

Donna
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us