It's very possible that I'm wrong, but capital gains on houses isn't charged if you effectively buy an equal or more expensive house. Furthermore, seniors have a once per lifetime "trade down" where capital gains isn't charged on the first X amount.
Far more painful to do, but all capital gains needs to be indexed against inflation. If I hold something for 10 years, and it doubles in price (not value), I have to pay capital gains on 50% of the sale. Of course, adjusted for inflation my asset may have just held even. But currently, I still have to pay capital gains.
Anon, Yes you are right about the equal or more amounts from selling a home. I think that one time write off was only good to $55.000.
The thing happening here is people use their homes to grow their net worth. But the greedy democraps want to steal your good fortune from you and give it to the illegals.
1. Sell your home and buy another, no capital gains tax.
2. Illegal aliens are "criminals." When criminals got to prison, they have not rights. Let's save a ton of money and export them without putting them in holding.
Anon, #2 is a keeper. See what happens when you send them to school. Tell her I live in Newscum country. He is trying to skirt the our laws and force us to pay for his favorite charity. He's stealing money from roads, etc, (we voted for) to pay for his favorite voters. Almost 2 million of them we have to support because of him.
Put it here ... I can't wait to read it. I have the Captcha turned OFF but blogger insists it be there. You should be able to bypass it.
** Anonymous, please use a name at the end of your comment. You're all starting to look alike.
*** Moderation has been added due to Spam and a Commenter a little too caustic. I welcome comments, but talk of killing and racist (or even close to racist) are not welcome.
2, 3, and I love 5.
ReplyDeleteedutcher, I agree. What's not to like?
DeleteIf there are worms in their food and they are near sewage, coming from sh*t hole countries they should feel right at home.
ReplyDeletePaul V, (Personal note) I do not allow my food to move. Call old fashioned.
DeleteIt's very possible that I'm wrong, but capital gains on houses isn't charged if you effectively buy an equal or more expensive house. Furthermore, seniors have a once per lifetime "trade down" where capital gains isn't charged on the first X amount.
ReplyDeleteFar more painful to do, but all capital gains needs to be indexed against inflation. If I hold something for 10 years, and it doubles in price (not value), I have to pay capital gains on 50% of the sale. Of course, adjusted for inflation my asset may have just held even. But currently, I still have to pay capital gains.
Anon, Yes you are right about the equal or more amounts from selling a home. I think that one time write off was only good to $55.000.
DeleteThe thing happening here is people use their homes to grow their net worth. But the greedy democraps want to steal your good fortune from you and give it to the illegals.
Two comments:
ReplyDelete1. Sell your home and buy another, no capital gains tax.
2. Illegal aliens are "criminals." When criminals got to prison, they have not rights. Let's save a ton of money and export them without putting them in holding.
John, the new home has to cost more than what you're selling.
Delete#10
ReplyDeleteI already love this place, you don't have to sell me on it.
Geo
Geo, I have to put something on these pages.
Delete#2 made me smile big today. Saved Newscum pic for dem daughter.
ReplyDeleteAnon, #2 is a keeper. See what happens when you send them to school. Tell her I live in Newscum country. He is trying to skirt the our laws and force us to pay for his favorite charity. He's stealing money from roads, etc, (we voted for) to pay for his favorite voters. Almost 2 million of them we have to support because of him.
Delete