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Yes, BUT... that money is reinvested... you are allowed a 1 time deduction for your primary residence to downsize... otherwise you are always going to pay the t
by jppope 6y ago
Yes, BUT... that money is reinvested... you are allowed a 1 time deduction for your primary residence to downsize... otherwise you are always going to pay the tax when you eventually try to realize gains.
- lotsofpulp 6y agoWhy does it only apply to real estate? It’s clearly a handout to real estate investors.
- jppope 6y agoThe US tax policy is beneficial towards real estate in general- you can debate the reasons why but some things that are commonly brought up: 1) real estate is relatively illiquid, which encourages long term investment 2) real estate is culturally significant as it differentiates us against the British 3) real estate is the primary source of gaining wealth for the middle class in the US 4) real estate ownership encourages community involvement TOTALLY debatable, but Real Estate is 100% given preferential treatment so far as investments go
- lotsofpulp 6y agoIs it really debatable why a historically rich, politically influential class would have favorable tax laws?
- AnimalMuppet 6y agoIt's debatable whether the reasons that class put forth for policies they preferred are valid for society as a whole.