Thinking About Selling Your Home? Here Are Tips That Could Help You Avoid Paying Capital Gains Taxes!

Here’s how you might save big:

**Primary Residence Exclusion**: If you’ve lived in your home for any 2 of the last 5 years, you can exclude up to $250,000 of capital gains if you're single, or $500,000 if you're married.

**Partial Exclusion**: If you didn’t live in your home for the full 2 years, you might still qualify for a partial exclusion if the sale was due to work, health reasons, or other unforeseen circumstances.

**Home Improvements**: Keep receipts of any home improvements—they add to the investment you’ve made in your home and can reduce the amount of capital gains you owe.

**1031 Exchange**: Selling an investment property? Consider a 1031 exchange to defer your capital gains by reinvesting in a similar property.

**Consult a Tax Professional**: Always check with a tax professional to make sure you understand the impact of your options.

With a little planning, you can save money and keep more of your equity.

If you’re thinking about selling soon, now’s the time to start preparing!

Call or text Kelly at 770-597-1108.  Let’s schedule a time to talk!