Agent

Feds target homeowners’ ordinary income, capital gains

Part 1: Minimizing home-sale taxes

(This is Part 1 of a five-part series. See Part 2, Part 3, Part 4 and Part 5.) "I would love to sell all my real estate to take advantage of today's high prices, but I don't want to pay Uncle Sam a fortune in taxes." That's what a widower homeowner and investor, who I estimate is in his seventies, told me a few weeks ago. Since our conversation, I've been wondering if he realizes all the tax-saving choices he has to totally avoid or at least minimize his capital gain taxes if he decides to sell his house and/or investment properties, which he has owned for many years. Purchase Bob Bruss reports online. That's why I decided it would be beneficial to briefly discuss in one place virtually all the major tax avoidance methods that home sellers and investors need to understand. In addition to the well-known methods, we'll look at some virtually unknown tax-avoidance methods that can save both capital gains taxes and estate taxes. Let's get started. We're all familiar with federal inco...

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