Just the threat of that coming down the line is enough to make a lot of investors pull out of the market. Great way to hammer the final nail into our economy's coffin.
I'm sitting on $1.1M in unrealized gains on my house in the middle of a Democrat shithole. With my luck I'll be looking at paying literally more than a make in a year in tax next year likely before values tank entirely and I'll never be able to pay it back.
Single family residence can only exempt $500,000 in gains and 1031 exchanges since 2017 don't apply to personal property.
I might just have to sell, take the gains and pain now, move to Texas and buy something that's already expensive.
Just the threat of that coming down the line is enough to make a lot of investors pull out of the market. Great way to hammer the final nail into our economy's coffin.
I'm sitting on $1.1M in unrealized gains on my house in the middle of a Democrat shithole. With my luck I'll be looking at paying literally more than a make in a year in tax next year likely before values tank entirely and I'll never be able to pay it back.
Single family residence can only exempt $500,000 in gains and 1031 exchanges since 2017 don't apply to personal property.
I might just have to sell, take the gains and pain now, move to Texas and buy something that's already expensive.
i guarantee w/e house you pick will be cheaper than your current home