Ways to Handle Capital Gains Tax When Selling Investment Properties in Florida
When offloading a property in FL, you don't be subject to state-imposed capital gains taxes, enhancing your earnings. You may want to evaluate the IRS's primary residence exclusion if you've resided in the property for two of the last five years—allowing up to $500,000 exclusion for joint filers or $250,000 if unmarried. Improvements can raise yo