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Selling a principal residence for a profit in order to move someplace smaller, or warmer, does not have to incur capital gains taxes. The Internal Revenue Service allows a profit of up to $500,000 for a married couple.
Selling a principal residence for a profit in order to move someplace smaller, or warmer, does not have to incur capital gains taxes. The Internal Revenue Service allows a profit of up to $500,000 for a married couple.