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The role of the federal capital gains tax in housing affordability
When you sell a home, the profit you make is taxed. It’s called the capital gains tax. You can exclude a portion of that profit from taxes – up to $250,000 for a single person or $500,000 for a married couple. Some housing experts and politicians think changing the capital gains tax on home sales could motivate more homeowners to sell, and open up homes amid a national housing shortage.
WUWM’s series, Seeking Solutions: Keys to Homeownership, examines barriers to home buying and possible solutions. WUWM’s Race & Ethnicity Reporter Teran Powell speaks with UW-Madison professor of Urban…
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