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> This is so alien to me. Why don’t you sell the place? Selling might trigger a very large tax liability, depending on original cost vs. current price. When th
by jjav 5y ago
> This is so alien to me. Why don’t you sell the place?
Selling might trigger a very large tax liability, depending on original cost vs. current price. When that is the case, it's better to keep it in case you might want to return to the area in the future.
- HWR_14 5y agoThe first $500k of appreciation is tax free. The rest is long term capital gains. If you want to minimize taxes, you should sell your house every time it appreciates in value by 500k and buy a new one. As long as you don't do so more than once every 2 or 3 years, which is how long it takes to reset the tax free increase.