Dialogue

• Want to save big on taxes when selling your home? Listen up!
• The Section 121 Exclusion might just be your new best friend.
• Here's the deal: you can exclude up to $250k of capital gains from taxes.
• If you're married and filing jointly, that jumps to $500k!
• To qualify, your house must've been your primary residence.
• And you've got to have lived there for at least 2 out of the last 5 years.
• You get to use this awesome tax break once every 2 years.
• So, what does that mean for you?
• If your gains are under these limits, no capital gains tax!
• Cash in and buy that next dream house without the tax headache.
• But remember, it's only for primary residences, not vacation homes.
• And guess what? You don't even have to buy another house.
• You can use the cash for whatever you want!
• Selling an investment property? 1031 exchange might be your friend.
• Different rules there, though, and no go for primary homes.
• Always check with a tax pro for your unique situation.
• Tax laws? They can be tricky.
• But now you've got a heads up on a huge money-saving tip!
• Curious about how you can maximize your home sale?