Posts from August 12th, 2026
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August
12
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Could the Capital Gains Tax on Home Sales Finally Change?
A bipartisan bill making its way through Congress could raise the amount of profit homeowners can keep tax-free when they sell their primary residence, and it's gaining real momentum on Capitol Hill.
The bill, known as the More Homes on the Market Act, would double the federal capital gains tax exclusion on the sale of a primary home. Right now, single filers can exclude up to $250,000 in profit from capital gains tax, and married couples filing jointly can exclude up to $500,000. Under the proposed legislation, those numbers would rise to $500,000 for single filers and $1 million for joint filers. The bill would also index the exclusion to...