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Capital Gains When You Sell Your Home: The $500,000 Break Most Sellers Do Not Understand
Hi, I'm Connor with Honor - message me here!
Your capital gain is not your sale price.
That one misunderstanding costs Santa Clarita sellers real money every single year, so let me clear it up.
Your gain is your sale price, minus your selling costs, minus your adjusted basis. And your basis is not just what you paid. Every capital improvement you made over the years adds to it. New roof. Room addition. Pool. Kitchen. HVAC. Windows. Solar you paid for. Block wall.
Which is why the cheapest tax savings in real estate is a shoebox full of receipts.
Here is a real example. A married couple buys…
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