The Primary Home Sale Tax Break Exemption To qualify, the home must have been your primary residence for at least two out of the five years before the sale. These don't have to be consecutive years. Both the IRS and Massachusetts are in sync on this one and offer a significant tax break called the Home Sale Exclusion, which allows single filers to exclude up to $250,000 of the gain from Continue Reading
About Massachusetts Home Sale Taxes
What are the Home Sale Taxes in Massachusetts? This post explains the Home Sale Tax Consequences in Massachusetts for a single-family home or condo you've lived in for at least two of the last five years. At the bottom, you will see links to special Home Sale Tax Exemptions that can help you avoid most, if not all, of the taxes on a home sale. Our team at Greater Boston Home Team is here to Continue Reading
Real Estate Tax Deductions For 2022 Tax Returns
Real estate is one of the best, if not THE BEST, ways to build wealth in America partially because of the tax benefits available to property owners. With that in mind, we have assembled the list of 2022 resources and tax deductions for property owners below. Important Note About Private Mortgage Insurance (PMI) For 2022 Returns: Private Mortgage Insurance (PMI) for principal Continue Reading
