The Retirement Downsize
In this episode of the Safe Haven Solutions Podcast, Larry and Kim are joined once again by CPA Lance Larson to tackle one of the biggest retirement moves: selling the family home. Whether you are looking to downsize in Minnesota or head south for warmer weather, the tax ramifications of a home sale can be significant if you aren't prepared. Lance explains the critical differences between primary residence exclusions—where married couples can often exclude up to $500,000 in gains—and the more complex tax treatment of rental properties. They dive into how "basis" (your original purchase price…
The skinny
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