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Two Year Rule
Real Simple, Live in the home as your Primary Residence for 2 out of 5 consecutive years and when you sell it, any gains realized are yours 100% tax free. |
If you live in your home as your primary residence for two consecutive years out of a five year period any gains made are receivable 100% income tax free. But like all investments, the gains are not yours until you actually sell to a qualified buyer and close escrow.
When you actually receive the funds, they will be yours to do with as you please. Yes, you have to live somewhere, and this is why we recommend a laddering strategy that will allow you to live within the tax guidelines (see Craig Moffitt,CPA) but also seek to actively build your Wealth by securing Tax Free gains as you go.
If you would like to learn more about Real Estate as an investment and how we can be of help you please call today. |
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