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The us does not tax capital gains on your primary residence unless you lived in it for less than 2 years. https://www.investopedia.com/ask/answers/06/capitalga
by MR4D 7y ago
The us does not tax capital gains on your primary residence unless you lived in it for less than 2 years.
https://www.investopedia.com/ask/answers/06/capitalgainhomesale.asp https://www.investopedia.com/ask/answers/06/capitalgainhomes...
- Scoundreller 7y agoSeems even more complicated than that. It's only on $250k in gains, or $500k if you're a couple filing jointly. It's a lot of money, but if you bought a house in Canada in Toronto/Vancouver 30 years ago, you'd be paying US CGT on its sale. And can a US-citizen/non-US-citizen couple still file jointly?
- generatorguy 7y agoIn the US you also got to deduct the interest you paid on your mortgage from your taxable income for 30 years.