How to Handle Capital Gains Taxes When Selling Investment Properties in the Sunshine State
When listing a home in Florida, you won’t encounter state-imposed capital gains taxes, boosting your profits. You may want to consider the Internal Revenue Service’s main home exclusion if you've lived there for two of the last five years—permitting up to $500,000 exclusion for spouses or $250,000 if unmarried. Upgrades can raise your home’